Mergers & Acquisitions / Joint Ventures

LaCrosse buys BoAML’s global fund admin business

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LaCrosse Global Fund Services has finalised its acquisition of Bank of America Merrill Lynch’s $6 billion global fund administration business – the latest spin-off deal of its kind from a multibillion-dollar financial institution.

New York-based LaCrosse now has more than $21 billion in assets under administration, up from the $15 billion-$16 billion it handled prior to the deal.

LaCrosse provides operations, middle-office and administration services to hedge fund managers globally. It serves Asia-based hedge funds through its Singapore operation.