Wednesday, 22 October 2014
Last updated 7 hours ago
Mar 2 2012 | 5:09am ET
BlueCrest Capital is poised to entrust more than one-sixth of its assets to HSBC Securities Services, a mandate encompassing some US$5 billion.
London-based BlueCrest said last year that it would begin to use HSBC's administration services in addition to those of GlobeOp Financial Services, which had previously handled all of BlueCrest's funds. But the first fund didn't fully migrate until January, giving HSBC US$250 million of the hedge fund's assets.
By the end of the year, that figure is likely to grow to US$5 billion, much more than initially expected, HFMWeek reports. BlueCrest has almost US$30 billion in assets under management.
Next year and beyond, HSBC's share could grow even more, a source told HFM. Some reportedly expect BlueCrest to drop GlobeOp, currently seeking to sell itself to TPG Capital, altogether.
Last year, GlobeOp CEO Hans Hufschmid said his firm had "a very good relationship" with BlueCrest.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
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