NEW YORK (HedgeWorld.com)–JPMorgan Chase & Co. has agreed to acquire Tranaut Fund Administration Ltd., an Irish hedge fund administration services company. The parties announced they expect the transaction to close during the third quarter, subject to regulatory approval.
Tranaut has offices in Bermuda as well as Dublin. It was founded in 1999 by: Stuart Drake, formerly managing director of Hemisphere Management (Ireland) Ltd.; Edwin Robertson, developer of the Tradar portfolio management system; and Michael Collins, president of Bermuda-based Argonaut Ltd. (see Previous HedgeWorld Story.
In a statement, Conrad Kozak, head of strategic business development, treasury & security services, JPMorgan, said that the acquisition of Tranaut is a logical extension of the New York firm’s servicing capabilities.
“We are pleased to welcome an organization that is recognized as best in class in their industry into our firm, and we are excited about the growth opportunity that this acquisition provides,” Mr. Kozak added.
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