North Street Global Fund Services, an alternative asset administrator, announced that it has closed on its acquisition of Los Angeles based hedge fund administrator Hedge Solutions, Inc.
North Street Global Fund Services COO, Joseph Musto, who co-headed the acquisition team noted: “Hedge Solutions is a great fit into the North Street Global family and further acts as a clear indication of our commitment to growing our resources to better serve our clients.”
This acquisition by North Street is its second such transaction in the last 12 months and additionally expanded the firm geographically to the west coast. North Street will keep Hedge Solutions’ staffed Los Angeles office on Wilshire Blvd. and has retained former Hedge Solutions President, Scott Cohen, as Managing Director; Head of West Coast operations. Mr. Cohen, prior to founding Hedge Solutions in 2005, worked at Rothstein Kass and Ernst & Young LLP and has successfully guided the launch of over 50 funds during his 17 year career.
Mr. Cohen will be based out of the company’s west coast office and will report to Dean Betzios, North Street’s fund services Global Head of Sales.
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“We are excited by the new additions to our existing alternative investment business and look forward to carrying our growth momentum through the remainder of the year,” said Mr. Betzios.
North Street Global Fund Services, a subsidiary of financial services company North Street Global, provides an array of alternative asset fund administration and investor services to hedge funds, private equity and real estate funds, and family offices. Paul Marino and Robert Cromwell of Marino Partners LLP, a White Plains, New York based corporate and financial services law firm which specializes in mergers & acquisitions along with private equity and hedge fund representation, served as legal counsel to North Street on the transaction.