MainstreamBPO has launched a new office in New York office for its hedge fund administration operations.
The new facility, which represents the firm’s first office in the Northern Hemisphere, will be a business development office for the firm’s North American and potentially Caribbean fund administration business.
The new business will be managed by MainstreamBPO chairman and managing director Byram Johnston.
“After the success of our offices in Asia we have been evaluating international markets to further expand our hedge fund administration business. Opening an office in New York is an obvious next step for us given the US hedge fund market is the largest market in the world and accounts for more than half of global hedge fund assets,” Johnston stated.
The firm already has a network of offices in Australia, Singapore, as well as Hong Kong.
“We are positive on the growth outlook for hedge funds in North America in terms of assets under management. It is important for us to expand our presence and cement relationships with local onshore managers as well as partner with existing clients looking to establish US based inflows,” Johnston added.