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Equinoxe Alternative Investment Services, a newly-established boutique fund administrator based in Hamilton, Bermuda, has announced a significant minority investment from a wholly-owned subsidiary of insurance group XL Capital.

This is one of a number of strategic investments that XL has made in alternative asset management businesses over the past eight years. The minority interest in Equinoxe expands the programme beyond asset managers into specialist service providers to the alternative asset management industry.

'We believe a strategic relationship with XL Capital gives Equinoxe the credibility, critical mass and resources to be a major player in the institutionalisation of the hedge fund administration market from launch,' says Equinoxe chief executive Stephen Castree.

Sarah Street, chief investment officer of XL Capital, says: 'As institutional investors increase their investments in alternative strategies, the need for highly professional, institutional quality fund administration services goes up. We are excited about what Equinoxe will be able to offer to its clients to meet that need.'

Equinoxe, which was founded in 2007 by experienced hedge fund administration professionals, has plans to add additional offices in Dublin, the US and Singapore later this year and in 2009.

XL Capital is a provider of global insurance and reinsurance coverage to industrial, commercial and professional service firms, insurance companies and other enterprises on a worldwide basis.


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