Thursday, 18 December 2014
Last updated 16 min ago
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.”
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.