WSJ – Hedge fund service provider LaCrosse Global Fund Services said Monday it has agreed to buy Bank of America Merrill Lynch’s global alternative fund administration business for an undisclosed amount, bringing its assets under administration to $21 billion.
Prior to the planned acquisition, LaCrosse had between $15 billion and $16 billion in assets.
“The acquisition both complements and supplements our existing operations,” LaCrosse’s co-chief executive Christopher Kundro said. LaCrosse already provides middle-office and administration services to global hedge fund managers.
