ALPS Acquires Hedge Fund administrator Price Meadows
ALPS Fund Services, Inc. today announced it has acquired the assets of Price Meadows Incorporated, a hedge fund administrator based in Bellevue,Washington, with more than $6 billion in assets under administration.
The new combined business, ALPS Price Meadows®, will operate as a division of ALPS Fund Services, Inc. Price Meadows was founded in 1987 by two
former hedge fund managers, Kelley Price,
Co-founder and CEO, and Rick Meadows,
Co-Founder and President.
They will stay on in day-to-day management of the new company, joined by Paul Garvey, ALPS’ Director of Alternative Investment Services.
Garvey joined ALPS in 2007, bringing with him 17 years of experience in the industry including senior management positions with BISYS Hedge
Fund Services and Investors Bank & Trust.
Price Meadows administers a wide variety of hedge funds, funds-of-funds, private equity and other funds, both domestic and off shore. The company has had experience in nearly every facet of hedge fund operations, including starting hedge funds, structuring and organizing new funds, portfolio investment management and, of course, partnership accounting.
“Like ALPS, Price Meadows is committed to providing excellent client service,” said Ned Burke, President of ALPS.
“ALPS Price Meadows combines the strengths of both firms to create a top-tier service provider to the alternative investment industry.”
ALPS Fund Services currently offers a comprehensive package of alternative investment services including fund inception consultation, fund administration and accounting, shareholder servicing and tax services.
“ALPS’ robust control structure and leading technology platform will greatly enhance our ability to service a wider variety of clients and the needs of more institutional funds,” said Kelley Price.
ALPS Price Meadows will service clients from offices in Bellevue, Denver and Boston with future plans to expand in the Cayman Islands and Europe.