The purchase of the business increases Trident Trust's assets under administration to $62 billion.

Trident Trust has acquired Tricor IAG Fund Administration Group (TIAG), a specialist provider of fund administration services to Asian private equity and venture capital funds.

Formed in 2013 as a joint venture between Tricor and IAG Group, TIAG operates in Singapore and Hong Kong, and provides fund administration solutions to a broad range of private equity managers in Asia with total assets under management of $12 billion.

All TIAG staff will be joining Trident Trust’s existing global team of over 200 fund administration professionals.

“Growing our global fund services capabilities, particularly for private capital funds, is one of our core strategic priorities,” Markus Grossmann, regional managing director for Asia, Middle East and Africa at Trident Trust, said. “We have been continuously investing in our technology and our team to expand the resources available to our clients, and the arrival of the TIAG team significantly accelerates that growth in Asia.”

The acquisition of TIAG will increase Trident Trust’s global funds’ assets under administration to $62 billion, across 940 funds.