Wed, Aug 20, 2014
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

ConvergEx expands its capital introduction offering

Wednesday, March 13, 2013
Opalesque Industry Update - ConvergEx Group, a leading technology company, announced that ConvergEx Prime Services is greatly expanding its capital introduction program to make 2013 the most active year for cap intro events in the company’s history. In addition to facilitating a greater number of one‐on‐one meetings, it will also offer access to a growing list of regional events, customer dinners and targeted speaking opportunities at industry conferences. Through these events, Prime Services’ customers will have access to a comprehensive universe of investors while also being strategically aligned with allocators that have specific interests in their individual strategies.

“Despite the fact that we have seen a notable pickup in the number of new funds that have been launched in the past few quarters, customers are telling us that it has never been more difficult to raise new money,” said Doug Nelson, chief executive officer of ConvergEx Prime Services. “Our extensive program will give managers additional resources to enhance their sales and marketing strategies by leveraging ConvergEx’s wide‐ranging customer base and industry relationships.”

“Importantly, we have also devoted a substantial amount of effort expanding our contacts to include many of the lesser known allocators from sources including family offices, fund of funds, wealth advisors, foundations, endowments and emerging manager platforms so customers can receive maximum exposure to potential investors,” said Michael DeJarnette, president of ConvergEx Prime Services. “And as an added benefit to customers, we have also enhanced our internal systems to track the effectiveness of their sales and marketing efforts.”

This expanded effort builds on a strong year of growth for ConvergEx Prime Services in 2012. In addition to signing on a record number of new customer accounts, the unit reached a new high in its total assets under custody. “The hedge fund landscape never stops changing which is why we stay committed to evolving our offerings to help position our customers for growth and success,” added Mr. Nelson.

ConvergEx Prime Services is an industry‐leading provider of integrated prime services to Hedge Funds, Family Offices, Mutual Funds, and Registered Investment Advisors. It offers advanced technology, global execution and reporting tools provided by multiple prime custody options through Goldman Sachs Execution and Clearing, L.P., J.P. Morgan Clearing Corp and Pershing LLC. Its customers are exposed to a broad base of long‐standing customer relationships with an experienced team providing high quality service and unique advantages in the marketplace.

Press release

bc

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. Investing – Hedge funds feasting on Apple again, Top U.S. hedge funds up Walgreen shares; lose some taste for Apple, A look at how some of the top investors, hedge funds spent the second quarter, Blockbuster movies fuel big wins for hedge fund investors, Top hedge funds flock into Allergan amid bid backed by Ackman, Soros Fund Management exits stake in some tech companies, Jana buys FMC stake, adds to AIG, exits Sirius in quarter[more]

    Hedge funds feasting on Apple again From Forbes.com: Robert Citrone and Phillippe Laffont are two of the most prominent Tiger Cubs, hedge fund managers who once worked for legendary money man Julian Robertson’s Tiger Management. Both of them had a rough start to 2014 and sold the bulk of

  2. Legal – Pershing Square sues U.S. over Fannie Mae and Freddie Mac, Elan investors sue SAC over insider-trading losses, Lawsuit loss by hedge fund is just a cost of doing business[more]

    Pershing Square sues U.S. over Fannie Mae and Freddie Mac From WSJ.com: William Ackman's Pershing Square Capital Management LP, which has taken sizable stakes in the common shares of Fannie Mae and Freddie Mac, filed a lawsuit Thursday against the U.S. government challenging its bailout

  3. Private equity follows hedge funds into reinsurance for long-term capital[more]

    From Artemis.bm: It’s not just hedge funds that are entering the insurance and reinsurance market in search of so-called long-term capital to put to work in their strategies, private equity firms targeting the space are also seeking opportunities to add assets under management. The entry of large pr

  4. North America – New York City’s next hot neighborhoods targeted with property funds[more]

    From Bloomberg.com: New York’s real estate world is filled with tales of ordinary people who bought property decades ago and saw values skyrocket to the millions. Seth Weissman is seeking investors to get in early on the next hot neighborhoods. The veteran of Goldman Sachs Group Inc. and hedge

  5. Investing – George Soros bets $2bn on stock market collapse, Warren Buffett's Berkshire reveals Charter stake, cuts DirecTV, Hedge funds lusting to cash out of MGM, Top hedge fund managers are buying Ally Financial, Hedge funds dumped 5m Herbalife shares in Q2, Paulson & Co hedge fund ups Puerto Rico real estate bet, Netflix Inc., Citigroup Inc, Google Inc are top new picks in Tiger Management’s 13F[more]

    George Soros bets $2bn on stock market collapse From Newsmax.com: Billionaire investor George Soros has increased his financial bet that U.S. stocks will collapse to more than $2 billion. The legendary hedge fund manager has been raising his negative bet on the Standard & Poor's 500 Inde