Family Office
Cayman startup gets jumpstart from California firm

Cedrus Investments acquires Global Crown Capital's institutional
business. Cayman Islands-based Cedrus Investments has acquired
the institutional business of San Francisco-based Global Crown
Capital.
Financial details of the transaction weren't disclosed.
Cedrus -- which provides wealth- and asset management services,
investment-banking advisory services and institutional sales,
trading and prime-brokerage services to institutions,
corporations, family offices and high-net-worth individuals
around the world -- says the acquisition immediately plugs it
into 85 economic markets worldwide.
Close enough
But Cedrus declined to say more specifically its
ultra-high-net-worth clients would benefit from the
transaction.
Cedrus has only been in business for a couple of months . Its
founder, chairman and managing director Rani Jarkas also founded
Global Crown Capital, in 2001.
Prior to the transaction with Cedrus, Global Crown Capital
provided investment advice, brokerage, and asset management
services -- to individuals, corporations, governments,
endowments, and foundations. Now it'll focus exclusively on
providing wealth- and portfolio-management services, hedge-fund
and mutual-fund services, and risk-management advisory services
to its individual private clients, according to Cedrus' general
counsel Melvin Patterson.
Global Crown Capital opened an office in New York last fall with
a view to expanding its global-equity research,
wealth-management, and institutional trading businesses.
Cedrus uses Deutsche Bank 's clearing, custody and
securities-lending services. -FWR
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