JPMorgan Securities announced this morning that it had acquired the Tranaut Fund Administration LTD. for an undisclosed amount.
The unit will be incorporated into JPM's Treasury and Securities Services division.
Tranaut Fund is a privately-owned hedge fund administration company. Pending regulatory approval, the deal will close in third quarter 2004.
With offices in Ireland and Bermuda, Tranaut was formed in 1999 and provides fund administration services such as net asset value calculations, maintenance of financial books and records, director services, maintenance of share registers, and communication with shareholders. According to its Web site, Tranaut utilizes the Trader portfolio management system and has developed a proprietary fund administration system.
