Broadridge chosen by $8bn hedge fund to revamp tech

Broadridge will provide its range of portfolio management, reference data, and data warehouse solutions for the hedge fund.
By Joe Parsons

Broadridge Financial Solutions has been selected to update the technology platform used by Whitebox Advisors, an $8.8 billion Minneapolis-based hedge fund.

Broadridge will provide the hedge fund its fully-hosted platform of trading, portfolio management, reference data, reconciliation and data warehouse solutions to manage Whitebox’s front, middle and back-office operations.

“Like many funds, we believed that our business was complex and required a very unique set of products and a large amount of customisation,” said Michael McCormick, COO, Whitebox advisors.

“What impressed us about the Broadridge product offering was the breadth of the capabilities and their ability to offer it as an integrated solution, freeing us up to focus on generating alpha and work that is truly differentiating, by allowing us to simplify our operating environment and reduce our need to be a system/vendor integrator.”

Through Broadridge, Whitebox will be able to streamline and automate its workflow, integrating its processes within the tech vendor’s data warehouse and its order management system.

“We have strategically built a unique integrated and hosted solution helping clients simplify their infrastructure, decrease operational risk and lower their total cost of ownership,” added Eric Bernstein, president of Broadridge asset management solutions.