Hedge Fund Service Providers Merge

Jul 1 2013 | 1:17am ET

Hedge fund service provider Broadridge Financial Solutions has struck a deal for a fellow asset-management servicer.

The Lake Success, N.Y.-based firm said it would add Boston-based Bonaire Software Solutions, which provides fee calculation, billing, and revenue and expense management services to a variety of money managers, including hedge funds.

"Bonaire is a great strategic fit for Broadridge. Its market-leading suite of solutions will extend Broadridge's offerings for asset managers, wealth managers and mutual funds, while strengthening our platform for the future," Broadridge CEO Richard Daley said,. "Broadridge will help Bonaire enhance its strong track record of growth by leveraging our client relationships and technology solutions in the U.S. and globally."

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