State Street Teams With InfraHedge For Managed Accounts

Jul 27 2011 | 11:18am ET

Financial services provider State Street has joined forces with InfraHedge and will add the UK-based company’s managed account platform to its alternative investment offering.

State Street has made a “majority equity investment” in InfraHedge, whose managed account platform targets global institutional investors, including pension funds, endowments, funds of hedge funds, wealth managers and sovereigns.
“The alliance with InfraHedge enables State Street to further enhance the services we bring to our institutional and hedge fund clients and highlights our commitment to alternatives,” said George Sullivan, executive vice president and head of State Street’s alternative investment solutions group. “Institutional investors are increasingly looking to managed accounts as one way to access the hedge fund market while retaining a level of transparency, reporting and risk management they are accustomed to with other asset classes. We are confident that our clients will benefit from this unique offering, which we believe provides a competitive advantage to both State Street and InfraHedge.”

InfraHedge allows institutional investors to utilize a managed accounts platform on a standalone basis. Its platform offers investors the services required to operate a managed account structure while remaining independent of manager selection and portfolio construction.

State Street managed alternative assets worth over $789 billion as of June 30, 2011. Its dedicated alternative investment solutions group employs over 3,000 worldwide. In April 2010, State Street acquired fund administrator Mourant International Fund Administration, further expanding its alternative investment servicing footprint in Europe.

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