Cerberus Capital Management has appointed JPMorgan Worldwide Securities Services (WSS) to provide fund administration and related securities services. J.P. Morgan WSS will be rendering these services to the New York-based firm’s investment funds which have aggregate assets of over $23 billion.
As part of this arrangement, the JPMorgan Chase Bank unit with $7.5 trillion in funds under administration, will also hire some Cerberus back-office staff. Cerberus is a hedge fund and private equity firm.
Click here for the release from Business Wire.