AlphaMetrix, a provider of hedge fund governance solutions, has acquired Spectrum Global Fund Administration. Terms of the acquisition were not disclosed.
With the acquisition, AlphaMetrix also introduced a multi-administrator hedge fund platform, which allows investors to choose from a pre-approved list of administrators.
Among the administrator options is AlphaMetrix360, formed by the acquisition of Spectrum and both firms’ proprietary technologies.
According to AlphaMetrix, the integrated offering will lower platform costs to investors, providing a consolidated base cost for both platform and administration (including daily NAV calculation) of 20 basis points combined.
AlphaMetrix CEO Aleks Kins said AlphaMetrix’s goal is nothing short of revolutionizing hedge fund investing.
"We constantly strive to give investors the tools they need to maximize returns and minimize risk, with entirely new services and lower costs for improved governance," Kins said.
Combined, the technologies offer straight-through-processing capabilities from trade to portfolio management, which according to AlphaMetrix will enable it to provide investors with a fully loaded daily NAV and all of the services of a Platform (transparency, risk management, due diligence, research and portfolio tools) for the efficient base cost of 20bps.