Saturday, 18 April 2015
Last updated 1 hour 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.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…