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Advised Goldman Sachs on sale of hedge fund administration unit to State Street

PRACTICE AREA GROUP: Asset Management and Investment Funds, Financial Institutions, Tax
DATE: 18.07.2012

Matheson, lawyers of choice for international companies and financial institutions doing business in and through Ireland, advised Goldman Sachs, the global investment banking firm, on the sale of its hedge fund administration business to State Street Corporation.

The deal, which is valued at US $550 million, is likely to be completed in Q4 2012, subject to regulatory approval.

The leadership team and staff of Goldman Sachs Administration Services (GSAS), which is based in Dublin, are expected to transfer to State Street as part of the transaction.

The team from Matheson was led by Tim Scanlon and Joe Beashel from the firm’s Financial Institutions Group, with respect to Corporate and Regulatory matters, and by Gerry Thornton with respect to tax matters.

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