Administration Back Office & Operations

Looking for checks and balances

by

Following Madoff, and at the behest of investors, more U.S. hedge funds are hiring independent administrators to prove their operational strength.

Following Madoff, and at the behest of investors, more U.S. hedge funds are hiring independent administrators to prove their operational strength

By Carolyn Sargent

It's rare for SAC Capital Advisors and Viking Global Investors not to be on the cutting edge of the hedge fund industry. But this spring, in at least one aspect of their businesses, they seem to be playing catch-up. The reason? Neither has an independent hedge fund administrator - and both are quietly talking about hiring one.

Administration, or the back-office work of reconciling trades and keeping records and books, is