Forbes – Agreement comes after JPMorgan Hedge Fund Services acquired Paloma Partners’ middle and back office
Henderson Global Investors, the global asset manager with GBP 67.7 billion ($126.3 billion) of assets under management, has entered into an agreement with JPMorgan Hedge Fund Services (“JPMorgan HFS”) to outsource the middle and back office services for its hedge funds.
Under the agreement, JPMorgan HFS will take over Henderson’s hedge fund middle and back office and its employees which service 14 hedge funds representing approximately $2 billion of assets. Henderson has signed a multi-year contract for JPMorgan HFS to provide daily operational services and fund administration for their hedge funds.
The agreement comes two months after JPMorgan HFS acquired the middle and back office operations of Paloma Partners Management Company (Paloma Partners) in Greenwich, CT, and is an expansion of JPMorgan HFS’s global business. Henderson’s hedge funds will be serviced by JPMorgan HFS’s new London office.
