Industry Updates

ConvergEx expands its capital introduction offering

Wednesday, March 13, 2013

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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.

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