Grassi & Co., a US-based accounting and auditing services provider, has launched a new fund administration entity, called Grassi Fund Administration Services (GFAS).
According to Grassi & Co., the new subsidiary will take over more than US$3.6 billion from its assets under administration.
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The new arm will also provide customized solutions for fund managers, including fund accounting, investor, audit and tax assistance services on a daily, weekly, monthly and quarterly basis.
GFAS will be managed by financial services professionals, Jim Anziano, and Avi Rosenblatt.
Louis Grassi, managing partner of Grassi & Co., said: "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."
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