Anchorage Advisors has selected State Street to provide a range of hedge fund administration services for approximately $8bn assets managed by it.
International Fund Services (IFS), State Street’s hedge fund administration company which is part of its Alternative Investment Solutions group, will provide administration services such as accounting and financial reporting services to funds managed by Anchorage.
Based in New York, Anchorage Advisors primarily invests in credit and special situations markets.
Natalie Birrell, COO of Anchorage Advisors, said: “Our selection of IFS is based on their expertise in servicing the types of credit strategies that form a key focus of our investment approach. IFS’s technology leadership and reputation for exceptional client service were also key considerations in our decision.”
Gary Enos, executive vice president for State Street’s Alternative Investments Solutions group, said: “This new mandate reflects the importance that hedge fund managers place in partnering with service providers that have the technology infrastructure and expertise to handle their increasingly complex fund structures. We look forward to developing a productive, long-term relationship with Anchorage Advisors as we help them bring new efficiencies to their operations.”