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Alternative Market Briefing

Maxim Group enhances its introduced prime brokerage with SunGard's VPM

Wednesday, October 30, 2013

Beverly Chandler, Opalesque London:

News came today that Maxim Group is to use SunGard’s VPM services to support its clients. Maxim offers a full service investment banking and brokerage firm, providing services to hedge funds, investment advisors, family offices and high net worth individuals. Headquartered in New York with some 350 people, the firm prides itself on being institutionally orientated in its capital markets activities and offers introduced prime broking via Pershing, a subsidiary of the Bank of New York Mellon, the firm’s clearing partner.

Seth Michaels, Maxim Group managing director and head of prime brokerage explains that the firm has seen a change in the introduced prime brokerage business since 2008, when many of the largest prime brokers changed their service models or refocused their efforts. Michaels says that his firm can handle hedge funds from emerging managers with just $5m up to funds with hundreds of millions of dollars.

Maxim Group offers these services to customers in the US and globally, in Asia, Europe and South America. "We see a fair number of start-ups" he says. "We like dealing with start-ups but we also see a number of opportunities where hedge funds have already been in existence but are looking for an upgrade, post the start-up phase and on their path way to significance which is where we feel w......................

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