Tennyson targets funds with assets under management of between USD50m and USD1bn, which it says has long been an under-served segment of the hedge fund market. It offers daily trade matching, processing, reconciliation and fund valuation services as well as corporate and investor services.
The firm, which recently moved into new UK premises in Godalming, Surrey, offers state of the art technological solutions as well as bespoke services to smaller hedge funds who cannot access similar offerings from institutional or larger fund administrators. It recently began offering Linedata's Beauchamp Enterprise Platform, integrating Beauchamp's complete set of hedge fund products, as an investment management platform on an ASP basis.
Tony Stocks, the founder of Tennyson Fund Solutions, says the offering of the firm's solutions to growing funds in the US marketplace is part of a strategy involving opening offices in each of the major financial centres over the next year.
'We are continuing to hire and bring on new clients,' he says. 'We are at USD300m with services stretching from back-office administration to middle-office trade matching and supply of front-end systems. We are integrating Omego to provide trade matching services and straight-through processing.'
As the group director of Citco Fund Services until 2001, Stocks oversaw the growth in the firm's assets under administration from less than USD1bn to USD110bn to become the world's largest hedge fund administrator. Franco was previously director of new business at Bisys, now Citi Hedge Fund Services.
Tennyson Fund Solutions has its headquarters in Bermuda and its primary operational location in the UK. In addition to offering front-to-back solutions for hedge funds and funds of funds, the firm also services private equity funds.
