Alter Domus takes another important step forward in the US fund services market
Photo: Matic Zorman/archives
Alter Domus strengthens its position in the American market for services to hedge funds by integrating the Salt Lake City-based Strata Fund Solutions company and its 200 professionals.
Alter Domus, a Luxembourg-based player specialising in services to the financial sector, has just completed a major operation on the US market. On 12 January, it announced the acquisition of Strata Fund Solutions LLC (Strata), a leading fund administrator serving US private equity and venture capital funds.
“Alter Domus North America leaps up in the ranking of the top three largest providers of private asset management services for US alternative asset managers,” a press release from the company, controlled by the international investment group Permira, said.
This transaction also brings the worldwide assets under administration of Alter Domus, created in 2003, to more than $1 trillion.
In the same press release, Alter Domus said that the market disruptions caused by the coronavirus have accelerated the trend for managers and owners of alternative assets to outsource the administration of their funds.
Founded in 2008 and based in Salt Lake City, Utah, Strata provides fund administration services to the alternative investment industry. It has nearly $140 billion in assets under administration and employs more than 200 professionals.
As of December 2020, Alter Domus had also integrated IPS Fund Services LLC, a Boston-based fund administrator serving private equity and venture capital funds.
This article was originally published in French on Paperjam.lu