Opus Fund Services has acquired the fund administration unit of Advanced Fund Administration (AFA).
Peter Young, president, COO and founder of AFA, and his team, will work together with Opus as consultants in conjunction with this acquisition.
AFA, which has offices in the Cayman Islands and New Jersey, provides business to its hedge fund clients consisting of legal, advisory and compliance services.
Commenting on the acquisition, Young said: “Working with the Opus platform will greatly benefit our administration clients who will enjoy the expanded institutional quality service, together with the greater resources Opus can provide. We are very happy with this transaction and are confident that the clients will be too. This will also allow AFA to focus on our remaining lines of business.”
Robin Bedford, CEO of Opus Fund Services, said: “This is the result of many months of hard work by both parties. We are excited to have the opportunity to work with the AFA client base as they become part of the award-winning Opus proprietary platform.”
