North Street Global Fund Services Acquires LA-Based Administrator

Alternative fund administrator North Street Global Fund Services has acquired Los Angeles-based boutique hedge fund administrator Hedge Solutions.

Hedge Solutions focuses on servicing start-ups and smaller funds. With the acquisition, North Street will keep Hedge Solutions’ staffed Los Angeles office, and former Hedge Solutions President Scott Cohen will become managing director, head of West Coast operations. Prior to founding Hedge Solutions in 2005, Cohen worked at Rothstein Kass and EY. At North Street, he will report to Dean Betzios, North Street’s fund services global head of sales.

The acquisition is investment banking parent firm North Street Global’s second in 12 months, after it got into the alternative administration space by acquiring Hedge Fund Solutions last year and rebranding it as North Street Global Fund Services.

North Street Global also recently hired Kira Bazile as president, where she will head business development for the firm’s fund administration platform, capital introductions group and global markets division. Bazile has been in the prime brokerage industry for over 17 years, most recently serving as a managing director at BTIG, focusing on developing the firm’s prime brokerage offering to emerging managers. She has also previously held prime services roles at Goldman Sachs and Deutsche Bank.