In a sign of their maturity–and desire to draw larger clients–two prime brokers that clear through bigger custodians and a long-term hedge fund service provider are adding offerings that historically only the largest firms have supplied.
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When Midsize is the Right Size
Expected to expand to nearly US$3 trillion within 5 years, the hedge fund industry is significantly changing. To maintain their edge, hedge fund managers increasingly rely on their prime brokers to address growing investor demands, cost pressures and infrastructure requirements.
Read MoreBoutique Primes See Boom In Credit Bust
Last summer’s credit crisis—and the ensuing collapse of a number of high-profile funds—has rocked the hedge fund industry. Some prime brokerages have been especially hard-hit, slashing leverage and responding to calls for greater transparency, while others have escaped seemingly unscathed. In fact, smaller prime brokerage shops are thriving, as changes at the top of the industry present an array of new opportunities.
Read MoreClearing Strength Attract JP Morgan
JP Morgan Chase & Co., in a deal backed by the Federal Reserve, agreed last week to purchase faltering Bear Stearns at a discount price. Bear Stearns’ correspondent clearing unit, long second fiddle to the firm’s high-profile prime brokerage and trading businesses, could prove to be a significant acquisition for JP Morgan.
Read MoreUncertainty Awaits New Fund Launches in Early ’08
As Jan. 31 approaches, signaling the end of the most turbulent month in recent memory for many markets, hedge fund managers who opened for business in early 2008 may be asking themselves why on earth they picked this month to launch.
Read MoreGar Wood Securities, LLC featured in HedgeWorld.com
Bob Jersey, leaning on his experience of more than 20 years in the trading and hedge fund community, is officially opening the doors to a hedge fund services firm.
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