Opus Fund Services Acquires Fund Administration Unit of Advanced Fund Administration (AFA)
HAMILTON, BERMUDA – Opus Fund Services, an award-winning independent fund administrator, today announced the acquisition of the fund administration unit of Advanced Fund Administration (AFA), whose offices are based in Cayman Islands and New Jersey.
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.”
Prior to today’s announcement, Advanced Fund Administration provided multiple lines of business to its hedge fund clients consisting of legal, advisory and compliance services. Peter Young, President, Chief Operating Officer and Founder of AFA, and his team, will work together with Opus as consultants in conjunction with this acquisition. Young adds, “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.”
Jorge Hendrickson, SVP Sales and Marketing added, “We are very happy to be able to implement the AFA fund administration client base onto the Opus platform. We are confident that they will be very impressed with our capabilities, global reach, scale, technology, and depth of services and teams.”
About Opus Fund Services
Established in 2006, Opus Fund Services is an award-winning independent and privately-owned full-service global fund administrator providing automated, integrated middle and back office administration services to hedge funds and asset management firms. Opus has offices in Bermuda, New York, Chicago (Naperville), San Francisco (Brentwood), Manila, Halifax and Ireland (Dublin and Enniscorthy). Opus Fund Services (Bermuda) Ltd. is licensed by the Bermuda Monetary Authority under the Investment Funds Act 2006. Opus Fund Services (IRE-Admin) Limited is regulated by the Central Bank of Ireland.
About Advanced Fund Administration
Beginning as a privately-owned hedge fund and private equity fund administration firm in 2008, Advanced Fund Administration (AFA) focuses on providing legal & fiduciary, advisory, and compliance services. They are a core member of the Young & Young Financial Services Group providing a wide range of global financial services to high net worth individuals, large institutions, and premium start-up clients through its network of member firms. AFA has offices in the United States, Cayman Islands, and the British Virgin Islands.