Wednesday, 29 June 2016
Last updated 9 hours ago
Dec 15 2010 | 8:00am ET
Chicago-based AlphaMetrix has acquired Spectrum Global Fund Administration and will incorporate Spectrum’s operations into its own investment platform.
The resulting company will manage about $20 billion in client assets with more than 100 managers.
AlphaMetrix has also launched a multi-administrator hedge fund platform allowing investors to choose from a list of administrators. One administrator option, AlphaMetrix360, has been formed by the acquisition of Spectrum and both firms’ proprietary technologies.
David Young, COO of AlphaMetrix (and former president of Spectrum) said: “AlphaMetrix has spent years developing proprietary technology for front- and middle-office operations, with a focus on near real-time investor reporting, risk management and portfolio tools, while Spectrum has spent the last 12 years building its own proprietary back-office general ledger and reporting technology."