Launches & Closures

Matrix winds down alternative asset management business


Matrix Alternative Asset Management, the hedge fund arm of the London-based financial services group, is being wound down as part of the move this week to place Matrix Group Ltd and Matrix Securities Ltd into administration.

Other parts of the Matrix business are being bought out by their management teams or by other entities – including the fund of hedge fund business, which will not be affected by the administration move and will now be managed by Bermuda Global Limited. Bermuda Global will manage the Matrix funds of funds as well as the Ascension fund, a single-strategy hedge