F2 Strategy, a business and digital transformation services firm to the wealth and asset management industries, has expanded its business with the acquisition of HBMJ Consulting, a US-based consulting firm.

HBMJ focuses on enhancing operational scalability, leveraging data intelligence, and driving technology transformation for hedge funds, hybrid funds, private credit, and other alternative investment firms. It aims to help these organisations institutionalise their back-office operations effectively.

This strategic acquisition is a continuation of F2 Strategy’s expansion efforts, following the earlier purchase of Aliter Investment Services.

F2 said that the integration of Aliter’s pooled investment servicing expertise with HBMJ’s specialisation in hedge fund operations and accounting is set to create a “unified asset management vertical”.

HBMJ, established in 2004 by Dan Hunter, brings to the table experience in system implementation, data reporting transformation, and workflow automation.

The firm’s services are designed to help alternative asset managers streamline their operations, facilitating scalability and providing real-time insights via processes and technology.

HBMJ’s knowledge in financial accounting systems, complex fund structures, and reporting requirements is claimed to position its clients for growth and automation.

According to Hunter, the merger with F2 Strategy represents an opportunity to propel HBMJ into a new phase of growth, leveraging F2’s culture and platform to benefit both clients as well as employees.

The shared commitment to a “client-first” approach and the pursuit of technological and process excellence were key factors in his decision.

F2 Strategy executive chairman and co-founder Doug Fritz said: “Just as F2 is a trusted partner to wealth management firms, HBMJ fills that same role for hedge funds.

“Like our previous acquisitions, HBMJ was built by an industry insider whose team brings unmatched knowledge and cultural alignment. That makes this partnership a natural fit and another powerful step forward in serving clients across the entire ecosystem of investments and advice.”

This represents F2’s fifth acquisition since a majority investment from Renovus Capital Partners in June 2023. This acquisition comes following additions of Oakbrook Solutions, SKY Marketing, MD Solutions and Aliter.