Mon, 18/02/2008 - 06:00
Pinnacle Alternative Investments, a marketing and business consultant to hedge fund managers, and Preqin Hedge, a division of London-based alternative asset research firm Private Equity Intelligence, have agreed jointly to develop and market Preqin's institutional hedge fund investor products.
Preqin will acquire Pinnacle's proprietary database of hedge fund investors and incorporate it into the Preqin investor directory, while Pinnacle will provide manager research and investor intelligence to Preqin's marketing and hedge fund investor analysis.
According to Pinnacle managing director Jacques P. DeRouen, the addition of Prequin's research staff and contacts in the hedge fund industry, along with Pinnacle's databank of investors in the CTA, global macro and currency fields, will enhance the firms' combined ability to update, expand and accurately profile investors.
Investors who allocate to hedge funds, including family offices, funds of hedge funds, endowments, private banks, foundations, wealth managers and pension schemes, will be detailed by name, type of investor, background, location, assets under management, current and target allocation to hedge funds, current strategies of interest by location and strategy, description of investment plans and key contacts.
'The resulting platform will provide as diverse a group of investors as can be found anywhere in the industry,' DeRouen says. 'The accuracy and depth of information for each investor profile will enable managers to target better those distribution channels for which their funds have the greatest appeal.
'Finally, the ability of the Preqin staff to update each investor continuously means that the incidences of outdated profiles - a prevalent issue in the database industry - will drop considerably.
'This was important for Pinnacle as we have historically made an effort to focus on quality, as well as reliability, when offering investor contact resources to managers. Now, through Preqin, we can offer managers and other hedge space professionals a top shelf directory at a price without peer when compared with similar services in the US and Europe.'
Nick Arnott, managing director of Private Equity Intelligence, says: 'We are delighted at the opportunity to work with Pinnacle to ensure the continued expansion of our current product offering and also to bring our product to a wider audience. We are already assisting many hedge fund managers to find institutional investors for their funds and see this as a great opportunity to do this for many more in the future.'
Pinnacle Alternative Investments is a business and marketing consultant to emerging hedge fund managers in the global macro and commodity, futures and foreign exchange field, a business in which it will continue to operate independently. The joint venture will result in no change in ownership interest of either company.
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