Singapore-based Stamford Management has appointed the asset servicing arm of Mitsubishi UFJ Financial Group to service its new Cayman Islands-domiciled private equity fund investing in natural resources.
The Mitsubishi unit, MUFG Investor Services, will provide fund administration, transfer agency and regulatory reporting to the fund, which will invest in metals, oil and gas as well as infrastructure in the commodity sector.
The Stamford LP private equity fund aims to raise $500 million and will be managed from Singapore by William Chan, founder and chairman of Stamford Management.
Commenting on the deal, Chan said MUFG Investor Services had "demonstrated a strong understanding of the private equity space".
Marc Russell-Jones, regional head of business development at MUFG Investor Services, said "this new mandate adds to [our] growing private equity client base in Asia and underlines our extensive expertise and commitment to the investment managers in the region".
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