New York based long/short equity manager (HF) launched in 2014 with $1.5 billion making it one of the highest profile launches of the year.
New Fund Launch
Raising $1.5 billion at launch requires a world class infrastructure, supported by top quality personnel and best-in-class service providers. Recognizing this, HF set-up operations with a highly experienced staff including several senior members who joined from sizeable long/short equity shops. In addition to high caliber employees, HF selected best-in-class service providers such as Prime Brokers, ISDA Counter Parties and an Administrator.
To choose a Portfolio Management system, HF embarked on a month’s long due-diligence process. HF’s staff had experience working with multiple legacy platforms that were locally installed with each system only serving one purpose e.g. one system for Trading, one system for Shadow Accounting, one for Risk etc. While commonly accepted in the past, HF recognized that this set-up was a recipe for inefficiency and operational risk which prompted their search for a cloud-based, fully integrated front-to-back solution.