Source: Hedge Funds Review | 24 Nov 2009
Categories: Prime Brokerage
Topics: Technology, United States, acquisition, clearing, Custody, Prime broker
Technology provider ConvergEx is to acquire prime brokers NorthPoint Trading Partners.
The acquisition will enable ConvergEx to offer smaller hedge funds access to a full range of boutique prime brokerage services through NorthPoint's clearing and custody agreements.
Advertisement
NorthPoint will continue to be based out of Atlanta, Georgia. All of its clearing and custody arrangements, products, partnerships and projects will also continue to be supplied.
Clients will be able to access additional ConvergEx services including a 24-hour global agency trading platform and enhanced soft dollar services.
NorthPoint chief executive officer Douglas Nelson and president Michael DeJarnette will continue in their respective roles at ConvergEx.
The deal is expected to close relatively soon. Financial terms of the agreement were not disclosed.
Updating your subscription status
Weekly poll
Risk Analyst (Fund of Hedge Funds)
Global fund of funds client seeks a risk analyst
Senior Quant Portfolio Manager - Hedge Fund
Growing, successful $2bn quant hedge fund specializing...
PhD Quant/Hedge Fund/Tax Friendly Location - London, UK
Award winning hedge fund specializing in systematic...
Fund Compliance Administrator Luxembourg Offshore Compliance Job
"Innovative fund and investment administrator is...
Prestigious $15 multi-strategy hedge fund, stable...
Advertisement
Related articles
Hedge Funds Review | 21 Dec 2009 |
Hedge Funds Review | 21 Dec 2009 |
Hedge Funds Review | 09 Nov 2009 |
Hedge Funds Review | 01 Aug 2009 |
Hedge Funds Review | 01 Jun 2009 |
Most popular
Most read
Hedge Funds Review | 12 Mar 2010
Hedge Funds Review | 12 Mar 2010
Hedge Funds Review | 12 Mar 2010
Hedge Funds Review | 11 Mar 2010
Hedge Funds Review | 11 Mar 2010
Related events
South Africa | 11 Mar 2010
Hong Kong | 15 Mar 2010
UK | 23 Mar 2010