News

MJ Hudson has acquired Amaces, a data and analytics firm. No financial terms were disclosed. The company will now be known as MJ Hudson Amaces.

PRESS RELEASE

London, 5 December 2018: London-based asset management consultancy, MJ Hudson, has acquired Amaces, a data and analytics firm, which provides tools and consulting services to help institutional investors benchmark and monitor the cost and quality of the investor services they receive from their custodian banks. The firm also provides innovative tools and related consulting services in the field of FX transaction cost analysis.

Founded in 2002 by two senior treasury and custody principals that worked together at Chase Manhattan (now JP Morgan) and then Citibank, Amaces has an established customer base and operations in Europe, as well as in the United States and Canada.

The acquisition expands MJ Hudson’s existing asset management client base from 600+ managers, pension funds and other asset owners to more than 700, collectively managing in excess of $10Trn. It provides MJ Hudson with an established operational and commercial presence in the US and Canadian markets, while simultaneously offering new and existing clients an extended and enhanced suite of services.

Amaces is a subscription-led data and analytics service provider to more than 100 fund managers, pension funds and endowments. Its clients rely on Amaces products and services to help them achieve and sustain optimum performance from their custodian banks and administrators. Its clients are located principally in the US, Canada and Europe and include many of the world’s most significant institutional investors.

The senior executive team at Amaces will remain with the business and there will be no interruption of services to existing customers. A number of client initiatives to develop services benefitting from the natural synergies between Amaces and MJ Hudson’s existing service offering are already underway.

The Amaces name will continue as ‘MJ Hudson Amaces’ and all of the services provided by the company will be accessible under the MJ Hudson brand.

Matthew Hudson, CEO, MJ Hudson, commented on the deal:
“Amaces is a leader in its field. The team has built an impressive business, becoming a trusted adviser to a remarkable array of blue chip clients on both sides of the Atlantic. The acquisition will complement the consulting, analytics and software capabilities MJ Hudson has already built and allow our clients to benefit from a more comprehensive, technology-enabled suite of services, across multiple markets.

“As well as allowing us to provide new services to MJ Hudson’s European customers, our decision to acquire the company, its software system and IP comes as we seek to further improve the support we provide to our North American clients and begin to grow our profile in the world’s largest asset management market. The Amaces team has identified a significant growth opportunity for its market-leading services and we are excited to work with the team to capture this opportunity and help more institutions generate enhanced returns.”

James Economides, Director, Amaces US, commented:
“Amaces and MJ Hudson both operate within asset management and both have strong, compatible cultures. The logical next step was to combine forces for the benefit of all our clients. We look forward to providing even better, more extensive products and a broader consultancy practice for the 100+ institutions that we already work with.”

Aidan Dennis, Director, Amaces Europe, added:
“MJ Hudson has built a name for itself as a dynamic and independent consultancy. The corporate transformation that Amaces is undergoing is to the benefit of our clients and will deliver an enhanced service for all, which is the key imperative. We very much look forward to the new partnership.”

About MJ Hudson
MJ Hudson, the asset management consultancy, supports clients managing and advising more than $10 trillion of assets, working with fund managers, institutions and other specialists in the asset management and broader financial services industries. The firm provides specialist legal and financial services, as well as advice, outsourced expertise and infrastructure support to participants in these markets.

MJ Hudson has developed a comprehensive range of relevant capabilities and has built a team able to draw on multiple professional perspectives. This makes the firm uniquely equipped to design, operate and optimise investment partnerships and improve the efficiency and effectiveness of institutions working within fund and asset management.

Distributed across Europe and North America’s major asset management centres, MJ Hudson’s team of more than 150 professionals has expertise in all traditional and alternative asset classes, including cash, equities and fixed income, private equity and venture capital, hedge funds, real estate, infrastructure, energy, and credit.

Advisers
BDO provided financial advice and MJ Hudson Law provided legal advice to the Buyer. Goldenhill International M&A Advisers provided financial advice and Fox Williams provided legal advice to the Sellers.