Wed, Sep 17, 2014
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

Wells Fargo to acquire fund administration provider LaCrosse Global Fund Services

Tuesday, September 06, 2011
Opalesque Industry Update - Wells Fargo & Company announced an agreement to acquire LaCrosse Global Fund Services (LaCrosse), an independently managed hedge fund administration and middle-office service provider, from Cargill, pending regulatory approval in several jurisdictions. The Structured Product Services division within Wells Fargo Corporate Trust Services (CTS) is sponsoring the transaction.

Upon closing, this acquisition will provide Wells Fargo and CTS with a complete service offering to the hedge fund administration market as LaCrosse's robust platform and technology performs not only traditional fund administration services, but also operational support, derivatives processing, bank debt processing and cash/collateral management. CTS' market reputation and complementary services combined with LaCrosse's experience and full-service platform will form a compelling offering to the hedge fund industry.

"Corporate Trust Services is excited to expand its hedge fund administration business and integrate with LaCrosse's platform," said Brian Bartlett, head of Corporate Trust Services at Wells Fargo. "CTS and LaCrosse have very similar cultures based on controlled growth, service excellence, back office competence, and employee/team loyalty."

"Wells Fargo is very excited to welcome the Co-CEO's of LaCrosse, Stuart Feffer and Christopher Kundro, along with the rest of their team worldwide," said Doc Walther, head of Structured Product Services at Wells Fargo. "This integration provides us with a huge opportunity to leverage our strong corporate trust market reputation with LaCrosse's experience and expertise, and offers our clients a full suite of hedge fund administration services."

Source

Press release

bc

What do you think?

   Use "anonymous" as my name    |   Alert me via email on new comments   |   
Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing


  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Investing - Big hedge funds show interest in Alibaba, Maglan joins other hedge funds in rush to Argentinian assets[more]

    Big hedge funds show interest in Alibaba From Hereisthecity.com: …Three other major hedge fund investors who have shown interest in the IPO are Dan Loeb of Third Point, David Tepper of Appaloosa Management and Dan Benton of Andor Capital Management. All three were among the roughly 800 p

  2. Investors looking at other sources for hedge fund-like returns[more]

    Komfie Manalo, Opalesque Asia: Investors who are always on the lookout for higher gains are looking at alternative sources of income, particularly exchange-traded fund industry that generates hedge fund-like returns, according to

  3. Investors move capital out of Scotland ahead of referendum[more]

    Benedicte Gravrand, Opalesque Geneva: Ahead of Scotland’s independence referendum on September 18, asset managers, investors and pension savers are moving billions of pounds out of the country,

  4. Indices - Greenwich Global Hedge Fund Index up 1.57% in August (+4.22% YTD), Eurekahedge Hedge Fund Index rebounds in August gaining 1.36% (4.22%), Lyxor Hedge Fund Index was up 0.9% in August (YTD +1.7%)[more]

    Greenwich Global Hedge Fund Index up 1.57% in August (+4.22% YTD) The Greenwich Global Hedge Fund Index ended the month of August up +1.57%. Equity markets were up in August with the MSCI World Index up +2.00%. This was primarily driven by the performance of the S&P 500 which was up +4.

  5. Alpha Strategic buys stake in Premium Point Investments[more]

    Benedicte Gravrand, Opalesque Geneva for New Managers: Alpha Strategic plc, a affiliate of