The deal will boost Maitland's funds under administration by 6.2 billion pounds (4.46 billion pounds) to more than 140 billion pounds, it said in a statement. No further financial details were released.

Maitland plans to use Phoenix's British presence to grow its share of the mutual fund and alternative fund administration outsource market across Europe, it said.

(Reporting by Simon Jessop; Editing by Matt Scuffham and David Evans)