Mitsubishi UFG Investor Services, the global asset servicing arm of the MUFJ Financial Group, has announced it has agreed to acquire Neuberger Berman’s private equity fund administration business Capital Analytics.

The deal will bring MUFG Investors’ to $384bn in assets under administration, with $145bn of that total in private equity and real estate.

According to John Sergides, the firm’s global head of business development and marketing, the purchase will add 150 staff with specialist private equity and real estate expertise.

The acquisition comprises all of Capital Analytics’ business including administrative services to Neuberger Berman’s funds. The deal is expected to close in the second quarter of 2016, subject to regulatory approval.