Equinoxe Alternative Investment Services Holdings Limited Announces Strategic Merger with MadisonGrey Holdings

HAMILTON, Bermuda, Nov. 9, 2010 /PRNewswire/ -- Equinoxe Alternative Investment Services Holdings Limited announces a strategic merger with MadisonGrey Holdings. This transaction creates a global hedge fund administrator with combined assets under administration of over $7bn, which will accelerate it into the rankings as one of the top 10 largest independent administrators. This increased size will enable servicing of funds onshore in the US through the Atlanta office, as well as offshore in Bermuda, Cayman, Mauritius, and in Europe through Ireland. It will provide enhanced opportunities for dedicated manager service in more time zones.  

The new US entity, to be known as Equinoxe Alternative Investment Services (USA) Inc., will increase to 50, the number of employees across the 5 Equinoxe offices servicing 150 funds. With its superior technology platform, Equinoxe is capable of servicing the full range of hedge fund strategies from core fund administration services to middle office outsource solutions.

Stephen Castree, CEO of Equinoxe says, "We are thrilled to be able to create a global force through this strategic merger. The integrated companies will extend the full service platform onshore in the USA, a cornerstone of our expansion plans, whilst continuing to leverage our institutional technology capabilities with a highly focused boutique service model, our key differentiator in the market."

Charles Thornton, President of MadisonGrey Holdings adds, "The benefit to our clients of this merger will be seen in the expanded international geographic reach, additional technology and services, plus the greater resources that we can offer as a combined group."

Stephen Castree adds, "Assets under administration have become a significant factor in being able to secure new business in the industry. Due diligence teams not only complete extensive examinations of service provider technology and procedures, but also evaluate the composition and assets of the client base.  With this combination of Equinoxe and MadisonGrey, we are well positioned to meet the needs of emerging, existing and mature managers alike with our full suite of services and capabilities offered on a global basis."  

About Equinoxe  

Equinoxe is a premium boutique service provider founded in 2007 by experienced hedge fund administration professionals. Headquartered in Bermuda, with offices in Bermuda and Dublin and a license to operate in Mauritius, and Singapore scheduled to open during 2011, it is a full-service alternative investment fund administration company. In December 2007 a wholly-owned subsidiary of XL Group plc (NYSE :XL) made a significant minority investment in Equinoxe. Equinoxe was ranked the number one administrator globally for those rated in more than one location with Equinoxe servicing clients in the USA, Canada, Bermuda, Europe and Asia.

For information, please contact Stephen Castree on +1 441 278 8230 or by email at [email protected].  

Web: www.equinoxeais.com

About MadisonGrey  

MadisonGrey is a superior provider of fund administration services to the alternative fund marketplace with offices in New York, Atlanta, Cayman and Dallas.  Focused on the distinct needs of its clients, the firm offers complete fund accounting, record keeping, and workflow processes.  MadisonGrey was the winner of a 2009 HFMWeek U.S. Service Provider Award.

For further information, please contact Charles Thornton on +1 678 392 4100 or visit www.madisongrey.com

SOURCE Equinoxe