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ALPS to expand hedge find admin business with Kaufman Rossin acquisition

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ALPS Fund Services is to expand its Denver-based hedge fund administration business with the acquisition of Kaufman Rossin Fund Services (KRFS), an independent, full-service provider of specialised administration services to the financial community.

Established in 1994, KRFS has offices in Miami, Boston, San Francisco, Dallas, and Grand Cayman. The company’s hedge fund services include accounting and valuation, back-office outsourcing, investor services, treasury services, and customised reporting. KRFS is an affiliate of Kaufman Rossin & Co

“We see this acquisition making us a top-20 provider in the hedge fund administration business,” says Ned Burke (pictured), CEO of ALPS Holdings, Inc., the parent company of ALPS and wholly-owned subsidiary of DST. “The combined operations are expected to enable us to expand our service offering into some of the fastest growing segments of alternatives administration.”

“KRFS clients should expect the same top-tier service with a larger platform to satisfy institutional investors who demand larger administrators,” says Blain Heckaman, Kaufman Rossin managing principal. “This deal will also strengthen Kaufman Rossin, allowing us to focus on our core practice, to improve our clients’ businesses and help protect them from risk.”

“Our unique origins are still powerfully reflected in the company today and we value of the rich history of our organisation,” said KRFS co-founder and Director Jorge R de Cardenas. “Together with ALPS, I believe we will be in position to accelerate our investment in helping clients protect themselves from risk and improve business performance.”
“We are excited to be working with the KRFS team,” says Jeremy May, President of ALPS. “We believe the capability of our combined organisations allows us to deliver industry-leading solutions to the global financial community.”

Morrison & Foerster advised ALPS on the deal which is expected to close in the first quarter of 2016

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