Professional service firm Grassi & Co. has launched a hedge fund administration subsidiary.
The New York-based firm announced in a statement released Wednesday that Grassi Fund Administration Services will take over the more than $3.6 billion in assets under administration previously administered by Grassi & Co.
GFAS will be headed Jim Anziano and Avi Rosenblatt, who have more than 50 years of combined industry experience. Anziano has background in providing audit, accounting, tax and administration services to investment partnerships and hedge funds, as well as investment advisors, while Rosenblatt has extensive experience in the private investment partnerships Industry, where he specializes in providing fund administration, accounting, audit and tax services for clients.
Grassi & Co. has two offices in New York and another one in Italy.