LibreMax Capital, a hedge fund manager, has selected State Street, a providers of financial services to institutional investors, to provide fund administration services for its newly launched hedge fund.

LibreMax Capital was founded by former Deutsche Bank executives Fred Brettschneider and Greg Lippmann.

International Fund Services (IFS), State Street’s hedge fund administration company which is part of its Alternative Investment Solutions group, provides administration services to the fund which was launched in October.

State Street Alternative Investment Solutions executive vice president George Sullivan said in today’s highly competitive market with increased demand for transparency, more hedge fund managers are electing to use third party providers for their administration requirements.

"State Street has a wealth of experience servicing a range of hedge funds, and we look forward to building a productive partnership with LibreMax Capital," Sullivan said.