State Street Sees Boom In Private Equity Admin. Biz

Aug 27 2008 | 9:24am ET

State Street Corporation announced yesterday that the firm’s private equity assets under administration have surpassed the $100 billion mark.

“We have been encouraged by the overall growth in our private equity servicing business, despite a slowdown within certain sectors of the industry,” said Jack Klinck, executive vice president and global head of State Street’s Alternative Investment Solutions group.

“Our total assets under administration have grown by approximately 20% since establishing our dedicated service offering, and we look forward to building on this strong foundation,” he added.

The firm established its private equity service offering in 2007, and just this year it has added $14 billion in private equity assets, representing 27 new funds and eight new client relationships.

State Street’s private equity fund services team provides full-service fund administration services to more than 100 private equity and venture capital investment sponsors and fund of fund managers, who manage more than 350 funds domiciled globally.


In Depth

Q&A: High Conviction, Low Correlation

Oct 30 2014 | 7:35am ET

Acadian Asset Management's numbers are big: over $70 billion in assets under management...

Lifestyle

Ex-Hedgie Steyer Gives $56M To Climate Action Super PAC

Oct 28 2014 | 9:23am ET

Retired Farallon Capital founder Tom Steyer has poured almost $56 million into his...

Guest Contributor

Hedge Funds Weather A Data Management Perfect Storm

Oct 22 2014 | 12:28pm ET

From a regulatory standpoint, nearly every development since the crisis has placed...

 

Videos

Editor's Note

    Guidelines for Guest Articles

    Oct 22 2014 | 9:46am ET

    We are always looking for guest articles from hedge fund managers and buy-side firms.

    If you are interested in submitting a contributed piece for possible publication on FINalternatives, please take a look at the specs. Read more…

 

Futures Magazine

October 2014 Cover

Demeter: Family affair

David and James Hamman launched their fundamental Livestock and Grains Program in March of 2010 but it really was decades in the making.

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.