LaCrosse Snags BofA's Fund Administration Business

Jul 19 2010 | 2:31pm ET

LaCrosse Global Fund Services has agreed to acquire Bank of America Merrill Lynch's global alternative fund administration business. Once the acquisition is complete, LaCrosse will have more than $21 billion in assets under administration and more than 250 employees.

Bank of America Merrill Lynch will continue to provide a range of other services to hedge fund clients, including prime brokerage, custody, trust, escrow, cash management and agency services. 

“Our company offers the most complete set of administration, operations and middle-office services in the industry,” said Stuart Feffer,  co-chief executive officer of LaCrosse Global Fund Services.  “In addition to bringing strong client relationships and a great team, this acquisition adds to our support capabilities for fund of funds and onshore European vehicles, including UCITS.”

Christopher Kundro, co-chief executive officer of LaCrosse Global Fund Services, added, “We look forward to continuing to support a wide range of strategies run by global portfolio managers, covering fixed income, distressed debt, structured credit, equities, currencies, commodities and a full range of related derivatives."

Terms of the deal, which is subject to regulatory approval,  were not disclosed.


In Depth

Royalties: The Alternative Assets of the Music Industry

Jul 8 2016 | 7:01pm ET

Recent market volatility has investors seeking greater insight into alternative...

Lifestyle

Moore Capital PM Fired After Raucous Hamptons Party

Jul 7 2016 | 10:47pm ET

A portfolio manager for Louis Bacon’s $15 billion hedge fund Moore Capital Management...

Guest Contributor

MPI: Like Stellar Returns? Better Understand the Risks First

Jul 22 2016 | 8:44pm ET

When the press reports extraordinarily strong relative or risk-adjusted returns...