Alter Domus Group is acquring fellow fund administrator Cortland Capital Market Services, the companies announced Wednesday.
Terms were not disclosed by either firm.
Cortland's $180 billion in assets under administration will increase Luxembourg-based Alter Domus' total AUA to $280 billion once the acquisition closes, expected in the first quarter 2018, according to a news release from Cortland, based in Chicago.
The acquisition agreement was reached Nov. 10, Alter Domus said in a news release.
Alter Domus provides fund administration services for international private equity, infrastructure, real estate and private debt managers. Cortland offers administration and middle-office services for credit, private equity, real estate and hedge funds managers.
Cortland CEO Doug Hart, along with Cortland staff, are expected to join Alter Domus, according to an Alter Domus news release. Mr. Hart will become regional executive North America and country executive U.S. at Alter Domus.
J.P. Morgan Chase was financial adviser for Alter Domus; Jefferies provided financial advice to Cortland on the deal.
A spokesman for Cortland could not be reached for further details.
