The boom in independent administration

By Katrina Dean Allen

Tue Jun 1, 2010


At least $587 billion in U.S. hedge fund assets now use independent administrators, up from $438 billion last year. Citco continues to be the top administrator, with $147 billion, according to the AR database.


By Katrina Dean Allen

Hedge funds aren't required to use an independent administrator in the United States. But over the past year such prestigious funds as Avenue Capital Group, D.E. Shaw, Maverick Capital, Millennium Management, Och-Ziff Capital Management Group, SAC Capital Advisors, Soros Fund Management and Viking Global Investors have had to outsource that function in order to keep investor capital from fleeing—and to raise additional money as well.

AR's annual administrator ranking shows that at least $587 billion in U.S. hedge fund assets now use independent administrators, up from $438 billion last year, based on nearly 2,000 funds that confirmed their relationship with the AR database. Citco continues to be the top administrator, with $147 billion in assets. State Street and Bank of New York Mellon take the second and third spots. As the desire for outside administrators has grown, Citco and BNY Mellon both more than...

ISSN: 2151-1845 / CDC10004H

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