Equinoxe Alternative Investment Services Holdings Limited has merged with MadisonGrey Holdings, creating a global hedge fund administrator with combined assets under administration of more than $7 billion.
The new US entity, to be known as Equinoxe Alternative Investment Services (USA) Inc., will enable servicing of funds onshore in the US through its Atlanta office, as well as offshore in Bermuda, Cayman, Mauritius and in Europe through Ireland.
Equinoxe came in seventh overall among hedge fund administrators in GCs 2010 Survey of Hedge Fund Administrators. MadisonGrey, a small administrator headquartered in the US state of Georgia, has not participated in a GC survey.
The administrator will increase to 50 the number of employees across the five Equinoxe offices, and in total services 150 funds. Equinoxe services the full range of hedge fund strategies from core fund administration to middle office outsource solutions.
We are thrilled to be able to create a global force through this strategic merger, says Stephen Castree, CEO of Equinoxe. The integrated companies will extend the full service platform onshore in the USA, a cornerstone of our expansion plans, whilst continuing to leverage our institutional technology capabilities with a highly focused boutique service model, our key differentiator in the market.
Charles Thornton, president of MadisonGrey Holdings, says clients will benefit from a greater geographical reach and additional resources.