HedgeServ, a global fund administrator and Hazeltree, a provider of integrated buy-side treasury management solutions, have expanded their partnership.
Powered by Hazeltree’s market-leading platform, HedgeServ will deliver treasury and portfolio finance technology and operational support, as part of HedgeServ’s middle-office treasury services to alternative fund managers.
As part of this expanded partnership, HedgeServ is hosting Hazeltree’s entire suite of products and complementing with integrated middle-office outsourcing and operational services.
The extended partnership will build upon their existing partnership around wires and over-the-counter (OTC) collateral management, reducing OTC collateral and prime broker margin requirements across counterparties.
HedgeServ’s treasury and portfolio finance solutions will also provide rate transparency for cash, borrows, lending, market colour and prime broker margin requirements and enable automated short locates across prime brokers.
Among other capabilities, the solutions will streamline cash management onto a single platform, eliminating the need to log onto multiple counterparty portals and enable secure, SWIFT-based cash movements.
Justin Nadler, president of HedgeServ, said: “We want to expand our successful partnership with Hazeltree to support the increased demands from our clients for treasury and portfolio finance solutions.”
He added: “As the industry matures and further adopts treasury management practices pioneered by a handful of industry leaders, we want to ensure that our clients have access to the best treasury technology available. The combined capabilities we are offering clients will significantly help clients improve operational efficiencies while reducing counterparty costs and exposure.”
Sameer Shalaby, president and CEO of Hazeltree, commented: “Fund managers have been looking for opportunities to outsource technology and middle office treasury operations to focus on generating alpha.”
He added: “We are delighted to be working with HedgeServ and its client-focused team to deliver a comprehensive treasury and portfolio finance solution to save money and improve operational processes and controls.”
