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Article: Buying up: Hedge fund success has everyone wanting in.(Special Report: Asset Servicing)(Industry Overview)
- Article from:
- Pensions & Investments
- Article date:
- October 4, 2004
- Author:
CopyrightCOPYRIGHT 2004 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Gregory Crawford
The boom in hedge fund investments, particularly from plan sponsors, has custodial banks, outsourcing firms and technology companies in a feeding frenzy, gaining expertise through acquisitions to boost market share.
"There used to be several niche players,'' said Bob Donahoe, managing director of BISYS Hedge Fund Services Ltd., New York, a unit of BISYS Group Inc. "There's been a move toward bigger institutional-type companies moving into the hedge fund administration space.''
He noted that BISYS Hedge Fund Services was borne out of BISYS' acquisition of Hemisphere Management Ltd. in March 2002.
"Institutions ...