Deutsche Bank buys hedge fund administrator

Deutsche Bank acquired hedge fund administrator HedgeWorks. Ted Meyer, a Deutsche Bank spokesman, said terms were not disclosed. “HedgeWorks is a strong fit with our business. It complements our core strengths of providing high-quality third-party administrative services to the financial community and the acquisition enables us to further strengthen our service offering to the hedge fund industry,” F. Jim Della Sala, head of structured financial services, said in a news release. Jefferies Putnam Lovell advised HedgeWorks on the deal. Mr. Meyer said Deutsche Bank’s own investment bankers advised executives of the trust and securities services unit on the acquisition.