BNY Alternative Investment Services has been selected by NewMarket Capital Partners as fund administrator for its fund-of-funds. NewMarket Capital Partners has $240 million in assets under management in fund of hedge funds strategies.
“We selected The Bank of New York as our new administrator because we want to provide our investors with the highest level of client service,” says Patricia Young, a founding partner of NewMarket Capital Partners. “Their new technology and enhanced reporting capabilities are superior to others available in the market and give us a critical level of support that enhances our client relationships,”
NewMarket Capital Partners is a private investment firm focusing on absolute return strategies for the institutional investor and specializing in the management of alternative investment vehicles. It is a registered investment advisor with the SEC.
“The Bank of New York will provide comprehensive fund administration and related services to NewMarket Capital Partners,” adds Brian A. Ruane, senior vice president at The Bank of New York. “We have customized our proprietary hedge fund platform to meet the reporting needs of a fund of funds manager, underscoring our commitment to this important market segment.”