BV Investment Partners Sells Butterfield Fulcrum

A Ropes & Gray team is representing private equity firm BV Investment Partners (BV) on the sale of its portfolio company Butterfield Fulcrum, a leading independent hedge fund administrator and service provider to the alternative investment industry, to Mitsubishi UFJ Trust and Banking Corporation (MUTB). Announced on June 20, the transaction is subject to normal regulatory and government approvals. The financial terms of the acquisition were not disclosed.
 
In 2011, BV partnered with two industry executives and made the largest investment from their Fund VII in Butterfield Fulcrum. Since then, BV has instituted a renewed focus on client service, launched technology-enabled products, and overhauled Butterfield’s software and IT development capabilities. The company also initiated an active sales outreach effort that resulted in significant new business from both existing and new clients. 
 
The Ropes & Gray team advising BV included private equity partner Neill Jakobe, tax partner Elaine Murphy, and senior career tax associate Sara Clevering.