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Saturday, 21 January 2017
Last updated 20 hours ago
Oct 9 2008 | 10:14am ET
Two hedge fund placement firms today said they’re merging to market larger hedge funds to the institutional crowd.
Liability Solutions and MIT Associates are teaming up, keeping the former’s name and boasting offices in London, Geneva, Switzerland, and New York. Together, the new entity will offer hedge funds access to some 1,200 institutional investors worldwide, with particular focus on the U.S., Europe and the Middle East. The newly-combined firm will have 15 marketing professionals.
“The industry has grown in dollars and numbers very considerably in the last few years, and capital raising has become considerably more competitive—even more so currently with the very difficult market conditions—with several thousand hedge funds competing on a permanent basis for the attention of institutional investors,” said Mike Finnell, who will become president of Liability Solutions following completion of the merger.
“Hedge funds need access to an investor base that is diverse both geographically and by style and we offer that.”