A US accounting and consulting firm is eyeing growth in the hedge fund and alternatives market with a new Cayman Islands office.

Burr Pilger Mayer, a California-based accounting and consulting firm, has launched an office in the Cayman Islands to further its reach in the hedge fund and alternative investment space.

The expansion follows last month's announcement that James Wallace will take over from Curtis Burr as BPM's new chief executive as of January 2016.

“We opened the Cayman Islands office to meet the demands of our growing hedge fund and alternative investment group,” said Brian Finnegan, leader of the firm’s assurance practice group and financial services industry group. “The Cayman Islands is the world leader as a domicile for hedge fund managers, institutional sponsors, financial service firms and private equity investors.”

BPM has served the San Francisco Bay Area's emerging and mid-cap businesses, as well as high net worth individuals, since its launch in 1986.