Alcova Asset Management has selected Northern Trust Hedge Fund Services to provide a full range of administrative and middle-office outsourcing services to its quantitatively driven, equity market-neutral fund.
The mandate from the UK-headquartered quantitative hedge fund manager is the latest announced by Northern Trust Hedge Fund Services.
"We were looking for a partner who had made an industry leading investment in technology and built an integral middle-office service from day one," says Russell Hart, chief operating officer and partner at Alcova Asset Management. "Northern Trust, through its global scale and experience in providing specialist hedge fund administration, demonstrated an understanding of the intricacies of our strategy and met all our requirements."
"We are pleased to provide specialist hedge fund administration and middle office outsourcing services to Alcova," says Madeleine Senior, head of custody and fund administration sales for Northern Trust in Europe, Middle East and Africa. "Our advanced technology solutions support Alcova's differentiated approach that is equal parts quantitative and discretionary and are designed to evolve with them."
Northern Trust's hedge fund services group provides specialist administration services to approximately 800 funds across more than 150 client managers from its client servicing locations in Dublin, Limerick, London, Luxembourg, Guernsey, Chicago, New York and Hong Kong.