ALPS Fund Services has acquired fellow hedge fund administrator Price Meadows Inc. Terms of the transaction were not disclosed.

Price Meadows, based in Bellevue, Wash., has more than $6 billion in assets under administration. The firm was founded in 1987 by Kelley Price and Rick Meadows, who will remain with the newly-renamed ALPS Price Meadows, joined by Paul Garvey, ALPS director of alternative investment services.

“Like ALPS, Price Meadows is committed to providing excellent client service,” Ned Burke, president of ALPS, which boasts about $32 billion in assets under administration, said. “ALPS Price Meadows combines the strengths of both firms to create a top-tier service provider to the alternative investment industry.”

ALPS Price Meadows is planning to expand to the Cayman Islands and Europe to supplement its U.S. offices in Bellevue, Boston and Denver.