KPMG has acquired Rothstein Kass, a professional services firm that specialises in hedge funds.
The transaction is expected to close in the coming weeks. The firm did not disclose the terms of the transaction.
“This represents a significant investment in our audit and tax businesses and demonstrates our continued commitment to driving growth in our core services,” said John Veihmeyer, global chairman of KPMG.
Rothstein Kass will add over 1,000 principals and professionals in 10 offices across the US to KPMG’s 6,000-strong alternative investments team. Rothstein Kass provides audit, tax, and advisory services to hedge funds, private equity, venture capital, and other clients.
“It demonstrates that KPMG intends to continue to invest in enhancing capabilities to service this fast-growing market and our clients,” said P Scott Ozanus, deputy chairman and chief operations officer of KPMG.
“This is a game changer, and we are truly excited by the expanded global opportunities that this combination will present for our clients and our people,” said Steven Kass, CEO of Rothstein Kass.