BlueHive Capital, Paris-based alternative asset manager, has chosen Northern Trust to provide hedge fund administration and middle office outsourcing services for its newly launched fund.
As part of the deal, Northern Trust will also provide depositary services to BlueHive Capital.
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BlueHive Capital said that the new fund invests in constructive event-driven strategies with a multi-asset approach, focusing on mergers, acquisitions, special situations.
The fund holds between 15 to 25 underlying strategies in three asset classes namely equity, volatility and credit.
Sebastien Boucher, CIO and founder of BlueHive Capital, said: "Whether it’s providing more transparency to investors or complying with regulatory requirements, the demand for data is growing and Northern Trust’s innovative technology solutions help us to meet those demands."
Peter Sanchez, head of Northern Trust Hedge Fund Services, said: "With an industry that’s increasingly data-driven, we find many managers are looking for a partner to help them not only manage their data, but also turn that information into insights that benefit the fund and its investors.
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By GlobalData"We’re pleased to support BlueHive, helping them to remove the administrative burden of fund management and enabling them to focus on their core business of managing money," he added.
