LaCrosse Global Fund Services has announced that it has agreed to acquire the global alternative fund administration business of Bank of America Merrill Lynch, subject to regulatory approval.
The terms of the deal have not been disclosed. Once the acquisition is complete, LaCrosse will have over $21 billion in assets under administration and more than 250 employees.
Following the sale of its alternative fund administration business, Bank of America Merrill Lynch will continue to provide a comprehensive range of other services to hedge fund clients, including prime brokerage, custody, trust, escrow, cash management and agency services.
“Our company offers the