Friday, 27 November 2015
Last updated 3 hours ago
Jun 7 2011 | 1:31pm ET
Hedge fund administrator Apex Fund Services has won $30 million in venture capital funding to assist with its expansion.
The firm, which will debut in Australia next month, will use the money from FTV Capital to push into servicing smaller hedge funds. The venture firm told Financial News that larger administrators were ignoring smaller funds, and smaller administrators were battered by the financial crisis.
"The big guys tend to be bureaucratic and oriented towards large institutional clients," FTV's Brad Bernstein said. "We believe there is a big opportunity to serve smaller firms who are not well-served by these large admin. firms."
FTV's money will fund both acquisitions and global growth plans, FN reports. Bernstein has joined Apex's board of directors.
"In addition, these large firms are in other businesses such as prime brokerage create conflicts and biases," Bernstein added. "As an independent, we have none of these issues."
Oct 21 2015 | 10:41am ET
One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…