Linedata has recently signed 10 new hedge funds clients globally amid the growing technology needs of clients that select Linedata Global Hedge to support their trading requirements and automate their front office processes.
Linedata has seen strong momentum in its front-to-back deals so far in 2014. These funds trade alternatives and represent alternative subsidiaries of global institutional banks and asset managers as well as a number of start-ups handling between US$710 million to US$1.120 billion in assets under management.
Their primary driving factors for selecting Linedata Global Hedge were to meet growing investor demands, regulatory requirements and a desire to simplify and reduce vendor footprint to one or two key suppliers. Linedata's new enhanced Portfolio Management Solution was a particular driver in the selection process for these organizations because of the increased focus of middle office operations from investors and regulators, the company said in a statement.
"The impressive growth in the hedge fund space reiterates the strength of Linedata Global Hedge. The momentum that Linedata is currently experiencing is an endorsement that affirms our offering is strong and well placed to meet business requirements now and in the future." said Gary Brackenridge, global head of hedge funds at Linedata.