300 North Capital, a US-based institutional investment manager, has selected the Ultimus Advisor Solutions to provide shadow accounting and other middle office services for its three hedge funds and their separate accounts.
Under the partnership, 300 North will use Ultimus technology and industry knowledge to create a more efficient middle office operation, enabling the firm to allocate its resources to managing money and diversifying its product offering.
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The agreement will see Ultimus providing middle office operations including a daily investment book of record, investor reporting, and billing and performance calculation services.
Ultimus managing director Gary Tenkman said: "Our technology platform and experience in operations will alleviate the middle office burden for 300 North and let them focus on their clients and their established global macro strategy. We’re proud to be on the same team as 300 North and look forward to helping them continue to grow their hedge fund strategy."
300 North senior vice president and head of trading Timothy Blastek said: "We’re excited to start this partnership, and continue to grow our business with Ultimus."
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