Reuters – Hedge Fund Firm Centaurus is considering selling its remaining 6.66 percent stake in French IT services group Atos Origin due to the financial crisis, French daily La Tribune reported on Monday.

Centaurus and Atos could not be immediately reached for comment.

According to La Tribune, Centaurus could sell its stake to PAI Partners, which is the group’s main shareholder with a 22.61 percent stake, and thereby relinquish its supervisory board seat.

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Tags: aftermath, asset-management, contagion, current-settlement, fee-arrangement, french-computer, investment-arm, last-gasp, market-regulator

New York (HedgeCo.Net) – RBC Capital Markets has unveiled its newest venture, the Global Prime Services Group that will provide comprehensive support and a vast platform of services to hedge fund and mutual fund managers as well as institutional asset managers.  

Global Prime Services Group comes at a time when hedge fund managers and other institutional money managers are in need of a specialized tier of services.  By providing an integral package of service providers and prime brokerage, clients are gaining the robust array of multi-asset class products and services needed in today’s complex and ever-changing markets.

“Building the Global Prime Services Group enables us to truly partner with our clients,” said Greg Mills, head of Global Equity Sales & Trading for RBC Capital Markets.  “We are now able to provide a fully consolidated platform that enables us to maximize the benefits to our clients and efficiently employ RBC’s financing capabilities.”

While outsourcing often results in fund managers not receiving the attention and level of services they need, GPS provides a single platform of services and uses a wide-angle view to assess each particular business.  This includes capital management, direct marketing, prime brokerage, electronic trading and capital introductions.  The strong credit quality and stability of the providers is something that managers are actively seeking.       

“While the past few months have seen unprecedented challenges in the brokerage industry, RBC’s strength and stability has been and will remain a source of confidence for our clients, particularly those in alternative investments,” said Jeremy Frommer, head of RBC Global Prime Services.  

Global Prime Services Group has seen a vast increase in the number of emerging hedge fund managers that are aligning themselves with the company.  Due to the cost efficiency and the simplicity involved in using a full service third party, new managers are capitalizing on the opportunity.

Already a leader in Canada, GPS is expecting substantial growth this year, while aiming to excel side by side with the emerging and existing managers they are working with.

Julie Scuderi
Senior Editor for HedgeCo.Net
Email: julie@hedgeco.net

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Tags: asian-strategy, charge-interest, dejarnette, fund-specialist, housing-market, institutional-asset-managers, last-gasp, lengthy-prison-terms, metals-group, undersecretary

West Palm Beach (HedgeCo.net)- New York based fund manager Auda Hedge LLC has selected hedge fund manager Northern Trust to provide fund administration, custody, banking and foreign exchange services to its fund of hedge fund program, with assets in excess of US$1 billion.

In January 2008, Northern Trust announced a worldwide exclusive partnership with youDevise to provide enhanced fund of hedge fund data to the fund of hedge fund community via the Hedge Information Provider ("HIP") system.

"Funds-of-hedge-funds have become the route chosen by many institutional investors when accessing hedge funds." Wilson Leech, head of Northern Trust’s Global Fund services group said, "By fully integrating HIP onto Northern Trust’s global platform we will be able to deliver an enhanced reporting capability and reduce operational risk, enabling our clients to make decisions faster and more effectively."

The HIP is an online portfolio management system developed specifically for funds-of-hedge-funds. It considerably improves the timeliness of information that funds-of-hedge-fund managers receive from underlying hedge funds regarding hedge fund holdings, current value, performance, liquidity and hedging, as well as a detailed breakdown of assets and transactions. HIP makes it possible for funds-of-hedge-fund managers to see portfolio management data daily that, historically, was only available monthly.

Where Northern Trust’s UK entities undertake regulated business, they are authorized and regulated in the United Kingdom by the Financial Services Authority.

Editing by; Alex Akesson

alex@hedgeco.net

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Tags: boston, founding-partners, global-technology, housing-market, john-buckley, last-gasp, northern-trust, portfolio-reports, prison-term, risk-capital, technology-platform, value-performance, weather-derivatives