New York (HedgeCo.Net) – Hedge fund administrators Conifer Group, LLC, and Vastardis Capital Services Holdings LP. have signed a definitive merger agreement combining the two companies to form Conifer Financial Services, LLC.
At inception, Conifer Financial Services will have combined assets under administration of more than $70 billion and offer trade execution services to over 200 clients worldwide, the firms said in a joint statement.
Jack McDonald, currently CEO of Conifer Group, will become President and CEO. William Vastardis, Founder and President of Vastardis, will be named Chairman.
“Combining our two firms will yield significant benefits for our clients and employees and allows us to realize scale in an industry that increasingly demands it,” McDonald said. “The merger brings together Conifer’s clients in the hedge fund industry with Vastardis’ clients in the fund of fund, endowment/foundation, private equity, and venture capital spaces. It also dramatically increases the scale and scope of services that both Conifer and Vastardis will be able to provide their clients, creating a larger global footprint with offices in San Francisco, New York, the British Virgin Islands, Singapore, and Toronto.”
The merger is expected to close at the end of the first quarter of 2014, following regulatory approvals and customary closing conditions.
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