Fri, Apr 25, 2014
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

Concept Capital Markets acquires hedge fund broker dealer Alaris Trading Partners

Monday, August 01, 2011
Opalesque Industry Update - Concept Capital Markets, LLC (“Concept”) and Alaris Trading Partners, LLC (“Alaris”) jointly announced today that they have entered into a definitive agreement for the acquisition of Alaris by Concept. The terms of the transaction, which is pending approval by the Financial Industry Regulatory Authority (FINRA), were not disclosed.

The combined company will offer institutional brokerage services to hedge funds, asset managers, and registered investment advisers on a global basis. Through strategic alliances with major securities industry firms, Concept offers clients a broad selection of services that includes multi-prime brokerage, financing, institutional reporting, outsourced middle and back office services, risk management and direct access and voice brokerage. Alaris will be fully integrated with Concept by the end of the third quarter.

“Bringing our two companies together will allow us to capitalize on each other’s best practices, enhance our already high level of customer service, and provide our customers with an expanded offering” said Jack Seibald, co-founder and Senior Managing Director of Concept Capital. “Alaris is a well established, fast growing firm with a very strong sales and operations team, and an enviable track record. We think they are highly deserving of their recent number one ranking for prime brokerage in North America from Global Custodian magazine.

“This is a tremendously important step for us,” said Patrick Boyle, Alaris CEO and cofounder. “Concept’s product offering, in particular its expertise in risk management, both on an intraday and end of day basis, gives us a service offering that positions us to better serve existing clients and now compete for larger ones. “This business combination will provide our customers with additional custodial options, and importantly, seamless risk management and reporting technology” adds Darren Day, President and co-founder of Alaris. “This will enable us to further improve our already high customer satisfaction levels.”

“This is an exciting announcement for Concept” said Michael Rosen, co-founder and Senior Managing Director of Concept Capital. “We’ve spent a great deal of time and money in recent years developing the technology infrastructure to support the execution, custodial, and reporting capabilities that we believe will become the norm in our industry, and we’re pleased to have our new partners involved in bringing these capabilities to a larger audience.”

For inquiries about this press release, contact Jack Seibald of Concept at (516) 746-5718 or Darren Day of Alaris at (858) 617-6400.

(press release)

Source

kb

What do you think?

   Use "anonymous" as my name    |   Alert me via email on new comments   |   
Banner
Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing
  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Opalesque Exclusive: Rainwater and Blue Sky - an Australian water fund emerges[more]

    Bailey McCann, Opalesque New York: Financial reporters often tout new funds and investments as uncorrelated investments, but few can say they are uncorrelated to everything but weather. Enter Blue Sky Alternative's water fund which invests in the permanent rights to Australia's water. Sev

  2. Regulatory – Expect greater SEC scrutiny of hedge funds that share information or collaborate in advance of their trades, Alternative funds to get SEC test for leverage, liquidity[more]

    Expect greater SEC scrutiny of hedge funds that share information or collaborate in advance of their trades From Thelawyer.com: A recent Wall Street Journal article — ‘Activist investors often leak their plans to a favoured few’ — focused attention on ‘activist’ investors and stock analy

  3. …And Finally – This week's least competent criminal is Austrian[more]

    From ABCnews.go.com: A German sought by authorities for alleged fraud has been arrested in Austria — after dropping into a police station to ask officers whether he was under investigation. Police in Salzburg said the 59-year-old man walked into a police station in the city on Friday night. Sp

  4. Investing – Hedge funds find pitfalls along with profits in real estate ventures, Marcato Capital Management makes new bet on Dillard’s[more]

    Hedge funds find pitfalls along with profits in real estate ventures From Law360.com: Hedge funds have joined the rush to real estate deals and development in recent months to close the financing gap left by tightening bank standards, but attorneys say many aren't prepared for the disclo

  5. Agecroft Partners estimates 90% of hedge funds using social media[more]

    The use of social media has increased significantly within the hedge fund industry over the past couple of years. Social media is broadly used by investors as part of their due diligence process on hedge funds, by service providers in their sales efforts to hedge funds, and by hedge funds to enhance