Fri, Mar 6, 2015
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   |   
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. SkyBridge opens office in Palm Beach County[more]

    Where better for a southern location than South Florida? SkyBridge Capital, which is headquartered in New York, has opened an office in Palm Beach Gardens. Palm Beach Gardens is a "Signature City" in northern Palm Beach County, with a population of around 49,000.

  2. Outlook - Philippe Jordan predicts 'alternative beta' to displace hedge funds, Stan Druckenmiller says Europe, Japan stocks will outpace U.S.[more]

    Philippe Jordan predicts 'alternative beta' to displace hedge funds From Investordaily.com.au: The disappointing performance of hedge funds in recent years is a result of "too much money chasing too little alpha", argues Capital Fund Management. Speaking to InvestorDaily, CFM partner Phi

  3. Investing - As rig count falls, hedge funds pile into long crude futures, Parus tactically shifts long/short exposure ratios, Mario Draghi outflanking Kuroda as bearish euro bets surge, Prime Capital’s 500.com bet derailed after 41% drop[more]

    As rig count falls, hedge funds pile into long crude futures From 247wallst.com: In the week ended February 27, the total number of rigs drilling for oil in the United States came in at 986, compared with 1,019 in the prior week and 1,430 a year ago. Including 281 other rigs mostly drill

  4. Outlook - 5 reasons why 2015 is looking like a breakout year for alternative investments, Hedge fund manager Dan Loeb predicts disappointment for funds seeking energy distress[more]

    5 reasons why 2015 is looking like a breakout year for alternative investments From Forbes.com: …After a strong 2014, the public markets have been off to a choppy start in 2015. This year, savvy investors may be looking for alpha elsewhere. For many institutions and high-net-worth indivi

  5. Event-driven strategies lead hedge fund gains in February while CTA rally shows signs of fatigue[more]

    Komfie Manalo, Opalesque Asia: Hedge funds ended February on a good note (+0.8%), confirming the positive momentum witnessed since the start of the year, reported Lyxor Asset Management in its Weekly Briefing. As of the end of February, the Lyxor He