Hedge Funds

Matrix Fund Services targets hedge funds


Matrix Fund Services, an administration group that caters to mutual funds, recently launched a hedge fund division aimed at building inroads into the alternative arena by offering comprehensive fund services to smaller startups.

Willow Grove, Penn.-based Matrix will provide administration to funds as small as $1 million that are in the capital-raising and track-record building phase, says Howard Seligmann, head of business development.

"Most other administrators are only interested in the larger startups, but we are interested in attracting $5 million startups as well as the $50 million ones because we know we know we can grow as they