Opus Fund Services has received court approval to absorb the clients of AlphaMetrix360 (AM360) effective immediately.
AM360 was formed in 2010 following the acquisition of Spectrum Global Fund Administration by AlphaMetrix Group, AM360’s parent. However, AlphaMetrix ran into financial issues leading to the company’s liquidation, and thus Opus took control of AM360’s clients as per the court’s order.
“The core of the AM360 administration product was built from one of the leading fund administration companies of the last decade,” says Stephen Giannone, Opus president and former Spectrum Director. “With a number of ex-Spectrum employees at Opus, we are confident that we will provide a seamless transition for their clients.”
“The implementation onto the Opus platform has commenced and we warmly welcome the AM360 clients. Opus is in a unique position of being able to act swiftly and decisively to provide a safe harbor during an uncertain and difficult time,” says Robin Bedford, Opus CEO.
Opus Fund Services Finalizes AlphaMetrix360 Absorption
Opus Fund Services has received court approval to absorb the clients of AlphaMetrix360 (AM360) effective immediately.