Financial Technology Partners - The Only Investment Bank Focused Exclusively on Financial Technology


FT Partners Advises on OpHedge's Strategic Alliance with Citco Fund Services

Overview of Transaction
  • On May 4, 2010, OpHedge Investment Services ("OpHedge") announced it has entered into a strategic alliance with Citco Fund Services ("Citco")
  • OpHedge is a full-service fund administrator to some of the largest hedge funds in the world with over $38 billion in assets under administration ("AUA") and is known for its tailored middle and back office solutions that provide complex hedge funds a complete consultative service
  • OpHedge is owned by two leading industry participants, Soros Fund Management LLC and Platinum Grove Operations Holdings, L.P.
  • Citco Fund Services is a leading global full service hedge fund administrator with $550 billion in AUA and is a subsidiary of The Citco Group, a worldwide group of independent financial service providers, comprised of international banks, trust and fund services companies
Significance of Transaction
  • Mutually beneficial partnership that allows the combined business to leverage both OpHedge's and Citco's best-of-breed capabilities to enhance the service offering to their existing and new clients
  • OpHedge's current locations in Rye Brook, NY and Shanghai will add further capacity to Citco's existing 18 fund administration locations worldwide
FT Partners' Role
  • FT Partners teamed with OpHedge to identify and explore multiple strategic alternatives for the company
  • FT Partners served as exclusive strategic and financial advisor to OpHedge and its Board of Directors