BOSTON--(BUSINESS WIRE)--
State Street Corporation (NYSE: STT), one of the world's leading
providers of financial services to institutional investors, announced
today that it has been selected to provide a range of hedge fund
administration services for approximately $8 billion in assets managed
by Anchorage Advisors, LLC.
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.
“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,”
said Natalie Birrell, chief operating officer of Anchorage Advisors.
“IFS’s technology leadership and reputation for exceptional client
service were also key considerations in our decision.”
Based in New York, Anchorage Advisors primarily invests in credit and
special situations markets.
“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,” said Gary Enos, executive vice president for State Street's
Alternative Investments Solutions group. “We look forward to developing
a productive, long-term relationship with Anchorage Advisors as we help
them bring new efficiencies to their operations.”
The broad scope of IFS’s hedge fund servicing offerings allow State
Street to develop individual, highly specialized solutions that can meet
virtually any level of asset servicing requirements for clients across a
broad range of sizes and levels of complexity. Using leading-edge
technology, IFS’s highly experienced team collaborates with clients
around the globe, including many of the world’s largest hedge funds.
State Street’s hedge fund services are part of its Alternative
Investment Solutions team. With more than $600 billion in alternative
assets under administration as of April 1, 2010, State Street’s
Alternative Investment Solutions group provides a complete suite of fund
accounting, fund administration, corporate administration, risk and
credit services to institutional investors, hedge fund managers, private
equity fund managers and real estate fund managers. The team includes
more than 3,000 employees worldwide.
About State Street
State Street Corporation (NYSE: STT) is one of the world's leading
providers of financial services to institutional investors, including
investment servicing, investment management, and investment research and
trading. With $19 trillion in assets under custody and administration
and $1.9 trillion in assets under management at March 31, 2010, State
Street operates in 25 countries and more than 100 geographic markets
worldwide. For more information, visit State Street at www.statestreet.com.
Source: State Street Corporation
Contact:
State Street Corporation
Carolyn Cichon, + 1 617-664-8672