BNP Paribas acquires CS Prime Fund Services
BNP Paribas Securities Services has completed its acquisition of Credit Suisse's Prime Fund Services.
The acquisition of the a provider of fund administration, custody and banking services for alternative investment managers will take BNP Paribas Securities Services' alternative asset under administration to over $237bn.
BNP Paribas Securities Services provides asset owners and asset managers, including alternatives, with a range of fund administration, performance, risk monitoring and banking services.
The custodian recently expanded its depositary banking network to help alternative managers comply with the Alternative Investment Fund Managers (AIFM) directive.
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