LaCrosse Global Fund Services announced Monday that it has agreed to buy Bank of America Merrill Lynch's global alternative fund administration business.

The price of the deal, which is expected to close this year, was not disclosed. Once the deal closes, LaCrosse would have more than $21 billion of assets under administration and more than 250 workers.

LaCrosse, which is based in New York, supplies operations, middle-office and administration services to managers of complex hedge funds worldwide.

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