Abacus Group, a New York-based hedge fund technology services firm, has opened a new office in Dallas, following the increased demand from new and existing fund managers in the region.
The Dallas office is fourth for Abacus after offices in Greenwich, Connecticut and San Francisco.
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In 2013, the company has added 57 new funds, driven by improved economic environment.
Abacus Group business development director, Jason Elmer, said increased regulatory and investor scrutiny, and rapidly changing market structure have added additional costs and challenges to managing a hedge fund or private equity firms’ technology in the current market environment.
"Firms are increasingly looking to outsourced services to access more robust business and compliance technology at a lower price point. Expanding into growing financial markets such as Dallas is a significant step for Abacus as we are now better positioned to deliver value to the fund management community in this region," Elmer added.
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