Grassi & Co has launched a new fund administration entity, Grassi Fund Administration Services (GFAS), which will take over more than USD3.6bn in assets under administration previously administered by Grassi & Co.

"We are excited to have Grassi Fund Administration Services build on the level of service and market reputation we have established with more than 250 funds," says Grassi & Co managing partner Louis C Grassi.  "Launching an entity that is solely focused on assisting managers with their daily accounting and administration operations will enable us to provide an even higher quality of service to help them meet their strategic objectives."  
 
GFAS will use technology, such as Advent's Geneva and Geneva World Investor software, to solve the complex challenges faced by hedge funds, global asset managers, private equity funds and mutual funds.
 
GFAS will be led by Jim Anziano and Avi Rosenblatt. They will assist clients in reducing business risk and adjusting to the ever-changing regulations and investor expectations of today's market.
 
Anziano's experience and expertise includes providing audit, accounting, tax and administration services to investment partnerships and hedge funds, as well as investment advisors.
 
Rosenblatt has extensive experience in the private investment partnerships industry, where he specialises in providing fund administration, accounting, audit and tax services for clients.