Cherry Bekaert Ranks Among Top Hedge Fund Auditors
Cherry Bekaert is excited to share its significant achievement in the hedge fund auditing realm. After acquiring Spicer Jeffries LLP, the firm has made a remarkable entrance into the elite group of auditors that serve the hedge fund industry. In the recent evaluations by Hedge Fund Alert, Cherry Bekaert secured its spot as the fifth-best hedge fund auditor, trailing closely behind the renowned "Big Four" accounting giants.
A Historic Milestone for Cherry Bekaert
This listing not only highlights Cherry Bekaert's numerical success in the industry but also marks the firm's first inclusion in the top 20 U.S. hedge fund auditors. The integration of Spicer Jeffries LLP, well-respected for over a decade as a top 10 hedge fund auditor, has significantly bolstered the capabilities and reputation of Cherry Bekaert, amplifying the synergy between the two firms.
Expert Insights on the Acquisition
Sean Tafaro, an Assurance Partner at Cherry Bekaert who specializes in hedge fund and asset management services, stated that the achievement reflects the powerful collaboration between Cherry Bekaert and Spicer Jeffries. He emphasized that this new alliance enhances their asset management industry team, creating fresh opportunities through increased resources and dedicated professionals.
Commitment to Client Services
Scott Moss, a Partner and Financial Services Industry Leader at Cherry Bekaert Advisory LLC, echoed these sentiments, expressing pride in their combined experience. According to him, the ranking showcases Cherry Bekaert's unwavering commitment to excellence in audit, tax, and advisory services within the securities industry. With renewed momentum, the firm looks forward to extending its portfolio of services and added value to its clients.
The Strength of Cherry Bekaert’s Asset Management Practice
Cherry Bekaert's Asset Management practice is specifically tailored to cater to the diverse requirements of the hedge fund sector. They offer a broad spectrum of services that tackle the unique challenges investment funds face, regardless of their stage of development. The talented team at Cherry Bekaert works diligently to provide innovative solutions and insights, driving significant results for clients.
Understanding the Acquisition Structure
The acquisition of Spicer Jeffries LLP was executed through two distinct transactions. Cherry Bekaert Advisory LLC secured Spicer Jeffries LLP's non-attest assets, while Cherry Bekaert LLP took over the attest assets. This strategic move is expected to yield a multitude of benefits in service provision and client engagement.
About Cherry Bekaert
Cherry Bekaert stands as one of the largest assurance, tax, and advisory firms in the United States, offering a diverse range of professional services across various industries domestically and internationally. Under the brand name Cherry Bekaert, the firm operates through two independently owned entities: Cherry Bekaert LLP and Cherry Bekaert Advisory LLC. It's crucial to note that while Cherry Bekaert Advisory LLC provides business advisory and non-attest services, it is not a licensed CPA firm, whereas Cherry Bekaert LLP holds the necessary licenses for attest services.
As part of their commitment to fostering collaborative success, Cherry Bekaert integrates in-depth industry knowledge and strategic insights to better serve clients. This philosophy is reflected in their approach to client relationships and service delivery, reinforcing their standing in the marketplace.
Frequently Asked Questions
What ranking did Cherry Bekaert achieve among hedge fund auditors?
Cherry Bekaert ranked fifth on Hedge Fund Alert's 2025 list of Top Hedge Fund Auditors, behind the "Big Four" firms.
Who did Cherry Bekaert acquire to enhance its capabilities?
The firm acquired Spicer Jeffries LLP, which has been recognized as a top hedge fund auditor for over a decade.
What does this ranking signify for Cherry Bekaert?
This ranking signifies Cherry Bekaert's strong presence in the hedge fund auditing sector and its commitment to delivering exceptional services to its clients.
How does the acquisition affect Cherry Bekaert's services?
The acquisition enhances Cherry Bekaert’s resources and team expertise, allowing the firm to provide better solutions and services to clients in the securities industry.
What is the focus of Cherry Bekaert's Asset Management practice?
The Asset Management practice is dedicated to serving the unique needs of investment funds, offering tailored solutions to meet the challenges of the securities industry.
