Saturday, 30 April 2016
Last updated 22 hours ago
Apr 13 2010 | 2:15pm ET
The Conifer Group—best known for its hedge fund administration business—announced today that it is undergoing a corporate reorganization that will result in the separation of its broker/dealer and fund administration businesses.
Going forward the two entities—Conifer Fund Services and Conifer Securities—will fall under the auspices of The Conifer Group, but they will be run separately.
“Our focus continues to be on providing the most comprehensive suite of services for the hedge fund industry. Our business has steadily grown in terms of clients’ assets and complexity of products we support. As demand for customized solutions has grown, we felt the need to focus on resourcing each of these businesses independently to better serve the increasing demands of our evolving client base and their investors,” said Jack McDonald, president and CEO of The Conifer Group.
Conifer, which was founded in 1989, was a relatively late entrant in the prime brokerage game, entering the space in the fall of 2008. However, the move appears to have panned out well for the firm, which has seen its assets under administration increase by more than 50% in the past 15 months.
Conifer is headquartered in San Francisco and has offices in New York and the British Virgin Islands.