Mon, 02/06/2014 - 14:11
Most of the principals and employees of Rothstein Kass, a professional services firm in the hedge fund industry, are to join US audit and tax advisory firm KPMG.
The move brings together KPMG’s alternative investments presence and global reach with Rothstein Kass’ expertise and personnel.
The transaction is expected to close in the coming weeks, and terms of the agreement will not be disclosed.
“Combining the strength of KPMG and its global reach with Rothstein Kass’ leading market position will create the preeminent professional services provider in the hedge fund market,” says John Veihmeyer, global chairman of KPMG. “This powerful combination will provide the services and capabilities our clients need as they face new regulations, increasing market complexity and global convergence that are affecting hedge funds and the broader alternative investments industry around the world. This also represents a significant investment in our audit and tax businesses and demonstrates our continued commitment to driving growth in our core services.”
“This is a game changer, and we are truly excited by the expanded global opportunities that this combination will present for our clients and our people,” says Steven Kass, CEO of Rothstein Kass. “We are looking forward to a seamless transition that will provide business continuity for both our clients and professionals, and are committed to continuing to provide the highest level of service for which KPMG and Rothstein Kass are known.”
KPMG’s alternative investments practice, with more than 6,000 partners and professionals worldwide, provides audit, tax and advisory services to hedge, private equity, real estate, infrastructure and fund of funds, and is an integral part of the firm’s financial services business line.
Rothstein Kass has more than 1,000 principals and professionals in 10 offices across the US. It provides audit, tax, and advisory services to hedge fund, private equity, venture capital, and other clients.
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