Hedge Funds

New investors create a bonanza for administrators


But these institutional investors are forcing changes in the services offered

Ask any hedge fund administrator what single trend has changed the business over the last couple of years, and one word comes up time and again: institutionalization.

The word most often refers to the stampede of big institutions, like pensions and endowments, clamoring to give money to hedge funds. But as investors get more institutional, so do the counterparties who serve them, including administrators.

One obvious sign that administrators are changing their stripes to please this more demanding class of investors is the fact that