Goldman Sachs Asset Management (GSAM) has entered into a strategic partnership with HazelTree, a treasury management solution provider, to help hedge funds, fund administrators, managed account providers and family offices improve their cash management.
The strategic alliance will offer hedge funds, fund administrators, managed account providers and family offices with automated, rules-based sweep access to solutions managed by GSAM.
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Through this partnership, clients can view of all cash balances across their counterparties and set target rules to optimize those cash balances and investments through the enhanced functionality.
GSAM managing director and global head of third party distribution James McNamara said: "GSAM has a long history of managing cash for hedge funds and other institutional investors, and we believe this new relationship with HazelTree will make cash management that much easier, as certain institutions are increasingly asked to find alternative investment options for their cash balances."
HazelTree CEO Stephen Casner said: "This partnership with GSAM aims to provide a risk-managed, operationally efficient way for hedge funds to streamline their cash management through an unprecedented combination of visibility into excess cash balances across clients’ various counterparties and automated movement of that cash for easier execution."
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