Sun, Jul 24, 2016
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. Opalesque Exclusive: California-based manager launches long/short equity hedge fund with unique algorithm[more]

    Benedicte Gravrand, Opalesque London for New Managers: SJL Capital LLC, an investment advisory firm based in California, has launched its maiden fund, the SJL MarketDNA Hedge Fund LP. The fund, which began trading

  2. Manny Roman to move from Man to Pimco[more]

    Benedicte Gravrand, Opalesque London: Emmanuel (Manny) Roman, an investment world veteran, has been hired by PIMCO, the large US bond fund house, as chief executive officer. PIMCO's current CEO Douglas Hodge will assume a new role as managing director and senior advisor when Roman joins P

  3. HFR: Hedge funds post strong gains in mid-July as markets recover from Brexit losses[more]

    Komfie Manalo, Opalesque Asia: Hedge funds posted strong gains through mid-July as the equity markets continued the recovery from Brexit losses. The HFRX Market Directional Index gained +2.17% (+4.22% YTD) and the HFRX Global Hedge Fund Index gained +1.03% through mid-month (+0.19%

  4. News Briefs - Carlyle goes on trial for a financial-crisis meltdown, Private equity and venture capital outperformed public markets in 2015, Pippa Middleton gets engaged to hedge fund manager James Matthews[more]

    Carlyle goes on trial for a financial-crisis meltdown Carlyle Group co-founder Bill Conway was in court on this small island last week recounting one of the most bruising episodes in his private-equity firm’s history: the 2008 collapse of mortgage-bond fund Carlyle Capital Corp. Carlyle

  5. …And Finally - Two men fall off cliff playing Pokemon Go[more]

    From BizarreNews.com: Two men who fell from a seaside cliff north of San Diego told authorities they became distracted while playing augmented reality game Pokemon Go. Encinitas fire Battalion Chief Robbie Ford said one of the men fell about 50 feet down the bluff in Encinitas while the other man fe