New York (HedgeCo.net) – Hedge fund tax and business advisory firm, WTP Advisors has acquired hedge fund provider Sala Associates LLC. Sala Associates will now become WTP Capital Markets.
“There is a growing need for business experts who can manage the operations side of investment funds. By providing back and middle office infrastructure, WTP Capital Markets lets hedge fund managers focus on trading,” Michael Minihan, Partner and co-founder of WTP Advisors, said, “We will also concentrate on offering business advisory services specific to investment banks, including process re-engineering, which can result in significant cost savings.”
WTP Capital Markets will offer tailored solutions for hedge funds in start-up and transitional phases focusing on operational infrastructure, including, fund administration and prime brokerage assessment and selection, staffing, and serving as pro-tem CFO/COO. WTP Capital Markets will also help financial institutions improve their bottom line and reduce costs by streamlining their technology and operational systems.
Louis J. Sala, principal and founder of Sala Associates will come aboard as CEO of WTP Capital Markets. Sala’s 25 years of experience in the finance industry has made Sala Associates a much sought-after firm for handling the ‘blocking and tackling’ functions of hedge funds, as well as investment banks.
“In the post-Madoff era the hedge fund industry has witnessed a greater emphasis on ensuring fund managers focus on the business of running a business. Portfolio managers must be actively engaged in building and maintaining cost effective infrastructures with sound internal controls,” Sala said.
Editing by Alex Akesson
For HedgeCo.net
alex@hedgeco.net
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