Opus Fund Services, an independent fund administrator, has acquired the hedge fund administration unit of Agile Hedge Solutions, LLC based in San Francisco. Opus, based in Bermuda and with offices in Chicago and San Francisco, expects the transaction will immediately strengthen its west coast presence.
Robin Bedford, CEO of Opus Fund Services, says: "This acquisition is the result of many months of hard work by both parties. We are excited to have the opportunity to work with the Agile client base as they become part of the award winning Opus platform."
Prior to today's announcement, Agile Hedge Solutions, LLC provided two lines of business to its hedge fund clients consisting of outsourced CFO solutions and fund administration. Nicholas Castoria, president of Agile, and his team will work together with Opus as consultants in conjunction with this acquisition.
"Working with the Opus platform will greatly benefit our administration clients who will enjoy the expanded institutional quality service, together with the greater resources Opus can provide," says Castoria. "This will allow Agile to focus on its core business, providing industry leading outsourced CFO consulting service to its current and future clients".
Stephen Giannone, president, says: “We are very happy to be able to implement the Agile client base onto the Opus platform and we’re thrilled to have Nick and his team work with us as we move forward together.”
Greg Knapp head of the Opus San Francisco office, says: "We are excited to continue the rapid growth of our west coast presence with this transaction. The expansion of our San Francisco office is one of our core strategies, and shows the importance that Opus has placed on the west coast market place."