BTIG, this year’s winner of Best Prime Broker – Start-Up & Emerging Managers, onboarded and supported a record number of new clients this year, many of whom launched funds in the last few months, made valuable introductions through the BTIG Capital Introduction team and saw a strong uptick in clients utilising BTIG’s Outsource Trading team to execute trades on their behalf.
BTIG, this year’s winner of Best Prime Broker – Start-Up & Emerging Managers, onboarded and supported a record number of new clients this year, many of whom launched funds in the last few months, made valuable introductions through the BTIG Capital Introduction team and saw a strong uptick in clients utilising BTIG’s Outsource Trading team to execute trades on their behalf.
According to Justin Press, Managing Director and Co-Head of BTIG Prime Brokerage: “We continue to deliver top-tier, responsive and reliable resources for clients. As we support clients’ long-term aspirations and near-term mandates, we provide a meaningful and distinct level of service driven by constant communication.”
One of the key trends BTIG is seeing is that asset levels across many of its clients are at all-time highs – achieved by fund performance and/or new allocations. Brian Petitt, Managing Director and Co-Head of BTIG Prime Brokerage, says: “We are winning mandates for multiple reasons, but often for our ability to help clients build and diversify their assets under management. Our seamless integration, with our active capital introduction pipeline of investors and allocators is increasingly attractive to emerging and established managers. BTIG continues to act as a critical resource for many small and mid-size funds looking for capital.”
Moving away from tradition
BTIG has provided outsource trading for more than 15 years and, in recent months, the firm has seen a dramatic shift where many of its prime brokerage clients are also utilising its services to replace their existing trading desk or use its traders to support a desk with a limited number of traders.
Another key trend is clients leveraging BTIG electronic trading. Petitt says: “Our client support team works closely with funds to help them maximise performance and streamline their trading experience. Our leading-edge proprietary systems include low-latency routing, machine learning and smart algorithms.”
Additionally, BTIG is experiencing growth across its prime brokerage family office platform. Managers who have returned outside capital to focus on managing personal assets continue to turn to the firm.
BTIG is also constantly enhancing its product suite. Recent innovations include stronger portfolio reporting tools and a monitoring service for its OMS to evaluate P&Ls and portfolios, and expansion of its outsource trading unit to support both equities and fixed income products. Further, its capital introduction team recently developed an online investor portal to provide a gateway to manager profiles, investor feedback and a video library of recorded events.
BTIG is hopeful that the trend of funds launching successfully and raising significant assets under management will continue throughout the next 12-18 months.
“As we look ahead, our pipeline is promising, and we are very optimistic about the future operating environment,” Press says. “As companies begin to see employees return to in-person activities, including conferences, events and meetings, we look forward to a busy 2021/2022 and a robust schedule. Our team is excited to once again engage in-person with our clients and prospects, and we are encouraged about the future.”
Justin Press, Managing Director and Co-Head of prime brokerage, BTIG
Justin Press is a Managing Director and Co-Head of Prime Brokerage at BTIG. He is also a member of the firm’s Global Operating Committee. Press joined BTIG in 2005 via a predecessor firm, Baypoint Trading. Prior to Baypoint Trading, he held Prime Brokerage Sales roles at UBS Prime Brokerage and its predecessor firms ING Barings and ABN Amro.
Brian Petitt, Managing Director and Co-Head of prime brokerage, BTIG
Brian Petitt is a Managing Director and Co-Head of Prime Brokerage at BTIG. He oversees both the day-to-day operations and business development efforts of BTIG’s Prime Brokerage division. Petitt is also a member of the firm’s Global Operating Committee. He joined BTIG in 2005 via Baypoint Trading, a predecessor of BTIG.
