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Alternative Market Briefing

Hedge fund and family office middle office firms merge and announce Hong Kong as global base

Wednesday, August 14, 2013

Beverly Chandler, Opalesque London:

HFO and GFS Pty Ltd announced a merger this week with added news that the combined company will be headquartered in Hong Kong. In an interview with Opalesque, Ben Parker, HFO founder and chief executive officer of the company, explained that his firm provides middle and back office operational solutions to managers, so they fit between the manager and the execution and portfolio management processes and between fund administrators and prime brokers. Their target market is hedge funds, family offices and institutional funds.

"We are an alternative to resourcing those functions internally," Parker says. "We are an institutional scalable option to running those functions in-house." Parker has impeccable hedge fund credentials having been CEO and CFO of Tudor-seeded Arnott Capital in Sydney for five years and before that the London representative for SAC Capital (in happier times for that company) for five years.

Arnott Capital built up to $1bn under management but was hit by the global financial crisis. "At Arnott, as a hedge fund, we had invested in building our own internal support system and we saw an opportunity to support our peers who were struggling to find the expertise. So we kicked off in 2010 supporting other hedge funds and small family offices and our business has grown to where we now support about 40 individual funds" Parker says. The merger with GFS came as P......................

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