Admins. Equinoxe, MadisonGrey To Merge

Nov 9 2010 | 9:31am ET

Hedge fund administrators Equinoxe Alternative Investment Services and MadisonGrey Holdings have agreed to merge, giving Equinoxe its first foothold in the U.S. market.

Terms of the merger were not disclosed. The combined firm, which will continue to be called Equinoxe, will have assets under administration of more than $7 billion and will use MadisonGrey's Atlanta office to service onshore U.S. funds.

The firm will also retain Equinoxe's offices in Bermuda, the Cayman Islands, Dublin, Ireland, and Mauritius, with a sixth office set to open in Singapore next year.

"We are thrilled to be able to create a global force through this strategic merger," Equinoxe CEO Stephen Castree said. "The integrated companies will extend the full service platform onshore in the U.S.A., a cornerstone of our expansion plans, whilst continuing to leverage our institutional technology capabilities with a highly focused boutique service model, our key differentiator in the market."

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