Crestbridge expands in US with acquisition

Crestbridge has announced its acquisition of Ovation Fund Services, effective at the end of the year. Ovation’s Morristown, New Jersey location will become Crestbridge’s seventh office, with all staff staying on as part of the Crestbridge global team.

The move complements the firm’s existing office in New York and provides Ovation’s existing client base with access to Crestbridge’s international team in locations such as London, Bahrain and the Cayman Islands, among others.

“This provides North American… clients access to European investment markets and turnkey solutions, which continues to be an increasingly strong trend,” said Paul Perris, chief commercial officer at Crestbridge Group.

Ovation’s founder Scot Hadley will stay on to lead the New Jersey office.

The financial terms of the deal have not been disclosed.