I-Bank Buys Administrator Hedge Fund Solutions

May 23 2013 | 11:10am ET

Boutique investment bank North Street Group is getting into the hedge fund administration business with the acquisition of Hedge Fund Solutions.

North Street said it had acquired the New York-based administrator and renamed it North Street Global Fund Services. Terms of the deal were not disclosed.

"The strategic acquisition of Hedge Fund Solutions, LLC allows North Street to enter the alternative asset management space and expand its service offerings," North Street's Alex Mascioli said.

HFS' Dean Betzios said the deal would allow his firm to "strengthen its infrastructure," while his co-head, Joseph Musto, said "it sets the foundation to allow us to grow alongside the funds we service."


In Depth

The Benefits Of Private Debt Investing

May 7 2015 | 10:43am ET

Jeffrey Haas is chief operating officer of Old Hill Partners Inc., an SEC-registered...

Lifestyle

Yale Receives $150 Million Gift from Blackstone’s Schwarzman

May 12 2015 | 12:10am ET

Yale University announced it has received a $150 million gift from Blackstone Group...

Guest Contributor

How To Generate 6% Yield In A Volatile World

May 22 2015 | 6:41am ET

Private credit comes in many different flavors, all with the common themes of over...

 

Editor's Note