AlphaMetrix has acquired Spectrum Global Fund Administration, creating an independent hedge fund platform with approximately USD20bn in client assets and more than 100 managers.
Terms of the acquisition were not disclosed.
With the acquisition, AlphaMetrix has also introduced the world’s first multi-administrator hedge fund platform, which allows investors to choose from a pre-approved list of administrators. Among the administrator options is AlphaMetrix360, formed by the acquisition of Spectrum and both firms’ proprietary technologies.
The integrated offering will lower platform costs to investors, providing a consolidated base cost for both platform and administration (including daily NAV calculation) of 20 basis points combined.
“AlphaMetrix’s goal is nothing short of revolutionising hedge fund investing,” says Aleks Kins, chief executive. “We constantly strive to give investors the tools they need to maximise returns and minimise risk, with entirely new services and lower costs for improved governance.”
AlphaMetrix is also providing institutional and high net worth investors with more hedge fund investment services via the AlphaMetrix Hedge Fund Platform. AlphaMetrix, which historically has serviced separate manage accounts for large investors and pooled managed accounts, will now support a third option: governed hedge funds. A governed hedge fund leverages AlphaMetrix’s multi-administrator model and proprietary technology to provide its investors with greater governance and near real-time transparency.
