North Street Global Fund Services, an alternative asset administrator, has closed on its acquisition of Los Angeles-based hedge fund administrator Hedge Solutions.
North Street Global Fund Services chief operating officer Joseph Musto, who co-headed the acquisition team, says: “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. Cohen, prior to founding Hedge Solutions in 2005, worked at Rothstein Kass and Ernst & Young.
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.
“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,” says Betzios.
