KPMG has agreed to buy New Jersey-based accounting firm Rothstein Kass to boost its hedge fund professional services advisory practice in the US market.
As part of the agreement, most of the principals and employees of Rothstein Kass will join KPMG.
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The transaction is anticipated to complete in the coming weeks. However, the terms of the agreement have not been disclosed.
The deal will combine KPMG’s expansive alternative investments presence and global reach with Rothstein Kass’ industry expertise and personnel.
KPMG said that the deal will boost its presence in the alternative investments industry and capital markets, including private equity, real estate, infrastructure, and hedge funds.
John Veihmeyer, global chairman of KPMG, said: "This powerful combination will provide the services and capabilities our clients need as they face new regulations, increasing market complexity and global convergence that are affecting hedge funds and the broader alternative investments industry around the world."
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By GlobalDataHoward Altman, chairman of Rothstein Kass, said: "Our combined expertise will enhance the services we provide to clients navigating the regulatory and business complexities in the global hedge fund industry – today and in the future."
Founded in 1959, Rothstein Kass employs over 1,000 principals and professionals and operates from 10 offices across the United States.
