Berdon merges in Concept Fund Services

Register now

Berdon LLP, a Top 100 Firm based in New York, has merged Concept Fund Services, a Garden City, New York-based firm, into its Berdon Fund Services LLC unit, effective Jan. 1, 2019.

Concept Fund Services provides administrative, accounting and financial reporting to funds, investment managers, general partner entities and family offices. The combined entity will be known as Concept Fund Services, a Division of Berdon LLP, and will be led by Anthony Gallo, the founder and CEO of Concept, who is joining Berdon as a principal and chair of the fund services practice. He and his team have moved to Berdon’s offices in New York City and Jericho, New York, on Long Island.

Financial terms of the deal were not disclosed. Berdon ranked No. 35 on Accounting Today’s 2018 list of the Top 100 Firms, with an estimated $121.05 million in revenue.

“Concept blends smoothly with our existing fund administration services, providing an even stronger array of services to our clients,” said Berdon co-managing partner Mark Bosswick in a statement. “Anthony and his team are well-respected within the industry, fit well within our culture, and share a similar service approach, which will help us expand and grow our fund services practice.”

Gallo said he saw an opportunity to join forces with a leading firm in the accounting profession. “Now, through Berdon, clients will continue to receive the services they expect and, as needed, can also tap into a wide array of additional services — including tax compliance and consulting; retirement, succession, and estate planning; operational advisory; and asset valuation,” he added.

Concept Fund Services, together with Berdon’s existing fund administration professionals, will offer clients a variety of services, including administrative, accounting, and financial reporting, fund accounting, company accounting and family office accounting.

For reprint and licensing requests for this article, click here.
M&A Integrations