Sunday, 1 February 2015
Last updated 1 day ago
Feb 1 2008 | 11:20am ET
Deutsche Bank yesterday said it acquired HedgeWorks, a hedge fund administrator with more than $10 billion in assets under administration. The move is aimed at bolstering Deutsche's existing alternative asset administration business.
HedgeWorks, based in Carlsbad, Calif., provides independent administrative services to over 100 hedge funds, including both single-manager funds and fund of hedge funds.
"HedgeWorks is a strong fit with our business,” said F. Jim Della Sala, head of structured finance services at Deutsche Bank. “It complements our core strengths of providing high-quality third-party administrative services to the financial community, and the acquisition enables us to further strengthen our service offering to the hedge fund industry, where Deutsche Bank already has strong relationships.”
Deutsche Bank currently offers administrative services to alternative asset managers from its offices in the Cayman Islands, Delaware, the Channel Islands, Ireland, Luxembourg and Mauritius.
Jan 23 2015 | 1:00pm ET
In our new section, FINtech Focus, we will profile one of these firms each week. While fintech is a broad category, we will be focusing on firms that specifically cater to the alternative investment industry. Read more…