Hedge fund administration firm Columbus Avenue Consulting has launched an Emerging Manager Platform to provide basic administration to start-up fund managers.
The Emerging Manager Platform is designed for single-prime long/short equity managers in the start-up phase of their business. This level of administration will include accounting services and monthly investor reporting at a reduced cost from the full administration platform.
“We are able to offer a reduced fee structure by limiting our services to basic portfolio accounting, which is the minimum most start-up managers require,” said Joe Holman, founder and managing partner of Columbus Avenue Consulting. “As the fund grows in assets and the portfolio employs more sophisticated asset classes, we can easily scale up our services to match the fund’s administration needs.”
The addition of the Emerging Manager Platform brings on a third tier of administration to Columbus Avenue’s suite of services. Columbus Avenue provides full daily and monthly administration to over 60 clients with varying strategies.
“Columbus Avenue has the processes and procedures in place to provide administration to nearly every type of strategy. However, the challenge we faced in 2009 was not a complex asset class. It was finding a way to meet the managers’ operational requirements without exhausting their resources,” said Stephanie Doane, head of business development at Columbus Avenue Consulting. “The back half of this year has loosened investor purse strings and we expect to see many of these start-up managers succeed. Our goal at Columbus Avenue is to get these managers off on the right foot with strong operations and a solid back office.”
Columbus Avenue Consulting was founded in 2004 and currently serves over 60 hedge fund, fund of funds, and separately managed account clients in North America representing over $5 billion in assets under administration. The firm employs over 50 employees worldwide with offices located in New York, Dallas, and Toronto.