Hedge Funds

State Street expands alternatives platform


State Street Global Advisors, the $1.5 trillion money management arm of State Street Corp., this week announced a significant expansion of its absolute return offerings. The firm also said it has recently added senior investment executives from Caxton Associates, Mellon Capital Management and KBC Alternative Investment Management.

As part of its expansion, State Street in June launched a fund-of-funds vehicle, the Multi-Alpha Fund, which will use allocation software licensed from AlphaSimplex Group, Andrew Lo's Cambridge, Mass.-based quantitative investment management firm, to allocate among State Street's eight underlying strategies, including a newly launched U.K. equity market-neutral fund.

State Street