Citco, OpHedge In Strategic Alliance

May 4 2010 | 2:53pm ET

A pair of hedge fund administrators announced plans to work together to offer their clients a wider range of services.

Citco Fund Services and OpHedge Investment Services have struck a strategic alliance in which Citco, by far the larger of the two firms with $550 billion in assets under administration to OpHedge’s $38 billion, will serve as sub-administrator for OpHedge. Citco has not taken an ownership stake in OpHedge; instead, the two sides agreed to split revenues.

“We already know each other well through working on mutual clients, our technology is already integrated, now we can focus on establishing best-of-breed across both organizations and this can only be good for our clients,” Citco’s William Keunen said.

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