North Street Group has acquired fund administrator Hedge Fund Solutions.
New York-based Hedge Fund Solutions offers fund administration for both emerging and established alternative asset managers. The company will be rebranded and its name will be changed to North Street Global Fund Services.
Terms of the agreement were not disclosed.
“The strategic acquisition of Hedge Fund Solutions, LLC allows North Street to enter the alternative asset management space and expand its service offerings,” said Alex Mascioli, managing partner of North Street Group.
Co-head of North Street Global Fund Services Dean Betzios stated: “The transaction with North Street allows Hedge Fund Solutions’ fund services to strengthen its infrastructure for our clients’ needs.”
“We’re excited about this opportunity as it sets the foundation to allow us to grow alongside the funds we service,” said Joseph Musto, co-head of North Street Global Fund Services.