Hedge Funds

Bisys buys administrator RK Consulting

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The Bisys Group this week announced its planned acquisition of RK Consulting, a New Jersey-based boutique that specializes in providing administration services for hedge funds.

The transaction, which is expected to be completed by the first week of January, is aimed at boosting the size of the Bisys Group's hedge fund business. After the deal closes, aggregate assets under administration in alternative investments at Bisys will weigh in at about $180 billion, a figure that includes both private equity and hedge funds, according to the company. Terms of the deal were not disclosed.

RK Consulting has offices in New York,