Caxton Hires State Street To Administer Five Hedge Funds

Jun 26 2009 | 11:09am ET

Caxton Associates is the latest hedge fund to bow to growing pressure on the industry to submit to independent valuation.

The New York-based hedge fund has hired State Street Corp. to administer some $6 billion in assets it manages, State Street said yesterday. The firm’s International Fund Services will provide accounting, administration, tax and risk services to five Caxton hedge fund.

“This new mandate is representative of a fundamental shift underway in the hedge fund industry, as more managers seek to outsource administrative services in a highly competitive environment in which hedge funds are increasingly subject to intense investor scrutiny,” said Jack Klinck, global head of State Street’s alternative investment solutions team.

John Forbes, Caxton’s chief operating officer, said his firm picked State Street because of “their long and significant experience servicing highly-sophisticated and complex hedge funds.”


In Depth

MiFID2 For U.S. Firms: Key Questions Answered

Feb 27 2017 | 4:54pm ET

The January 2018 deadline for implementation of the EU’s mammoth MiFID2 regulations...

Lifestyle

'Tis the Season: Wall Street Holiday Parties Back In Fashion

Dec 22 2016 | 9:23pm ET

Spending on Wall Street holiday parties has largely returned to pre-2008 levels...

Guest Contributor

iCapital Network: The Trump Effect On Direct Lending

Feb 23 2017 | 4:21pm ET

The arrival of the Trump Administration has raised questions among private debt...

 

From the current issue of