Fri, Mar 29, 2024
A A A
Welcome Guest
Free Trial RSS pod
Get FREE trial access to our award winning publications
Industry Updates

NorthStar Financial Services launches hedge fund administration firm

Wednesday, January 08, 2014
Opalesque Industry Update - Gemini Fund Services, LLC (Gemini), an engaged partner to independent advisors as a provider of comprehensive, pooled investment solutions, announces an expanded range of services for hedge fund clients. Its parent, NorthStar Financial Services Group, LLC (NorthStar), has launched a hedge fund administration unit, Gemini Hedge Fund Services, LLC (Gemini Hedge), as a new subsidiary.

Gemini Hedge is a complete provider of customized and adaptable solutions for hedge fund managers, assisting with middle- and back-office duties, financial reporting and investor services. The business also offers high tech, high touch services for managers requiring frequent liquidity and enhanced reporting capabilities as well as access to distribution channels to help launch and distribute hedge funds.

"Gemini and NorthStar are leveraging best-of-breed technology and 30 years of experience bringing pooled investment vehicles to market to help hedge fund managers navigate an ever-changing landscape," said Andrew Rogers, Chief Executive Officer of Gemini. "With more and more hedge funds adopting mutual fund administration, reporting and accounting standards, our dedicated team is well-positioned to assist hedge fund managers as they adjust to new regulations and investor expectations."

David Young, a 24-year veteran of the financial services industry with extensive hedge fund experience, serves as President of Gemini Hedge. For eight years, Mr. Young was responsible for creating, implementing and overseeing the operations and service offering of Spectrum Global Fund Administration, LLC. From 1998 to 2002, he served as Chief Operations Officer of Chicago-based hedge fund Midland Trading, LLC, which utilized an options market-making strategy.

"Gemini's team members are dedicated experts with years of experience, making them ideal partners to guide hedge fund managers as they adjust to this continually shifting market environment," said Mr. Young. "Hedge fund managers can now take advantage of the same daily administration services that their mutual fund counterparts have used to launch their investment vehicles and grow their assets."

(press release)
km

What do you think?

   Use "anonymous" as my name    |   Alert me via email on new comments   |   
Previous Opalesque Exclusives                                  
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. KKR raises $6.4bn for the largest pan-Asia infrastructure fund[more]

    Laxman Pai, Opalesque Asia: The New York-based global investment firm KKR has raised a record $6.4bn for its second Asia-focused infrastructure fund, underlining investors' continued appetite for private markets. According to a media release from the alternative assets manager, the figure top

  2. Bucking the trend, top hedge fund makes plans for a second SPAC[more]

    From Institutional Investor: SPACs aren't dead. At least not to the folks at Cormorant Asset Management. The life sciences firm, whose hedge fund topped its peers in 2023, is confident it will match the success of its first blank-check company. Last week, the life sciences and biopharma speciali

  3. Benefit Street Partners closes fifth fund on $4.7 billion[more]

    Bailey McCann, Opalesque New York: Benefit Street Partners has closed its fifth flagship direct lending vehicle, BSP Debt Fund V, with $4.7 billion of investable capital across the strategy. Benefit Street invests primarily in privately originated, floating rate, senior secured loans. The fun

  4. 4 hedge fund themes that are working in 2024[more]

    From The Street: A poor earnings report from Tesla (TSLA) has not hurt the indexes on Thursday. The decline in Tesla stock, which is losing its position in the Magnificent Seven pantheon, is more than offset by strong earnings from IBM (IBM) and ServiceNow (NOW) . In addition, the much higher-t

  5. Opalesque Exclusive: A global macro fund eyes opportunities in bonds[more]

    Bailey McCann, Opalesque New York for New Managers: Munich-based ThirdYear Capital rebounded in 2023, following a tough year for global macro. The firm's flagship ART Global Macro strategy finished the year up 1