Pershing has made a non-controlling investment in HedgeMark and obtained rights to acquire HedgeMark over time, the companies have divulged.
HedgeMark offers an end-to-end hedge fund managed accounts platform with due diligence, portfolio construction and back-testing offerings. Pershing, a BNY Mellon subsidiary, says HedgeMark redefines the role of hedge funds in the managed accounts industry for both institutional and qualified investors and asset managers.
HedgeMark has built an investment solution that speaks to the fiduciary demands of our most sophisticated institutional clients by integrating due diligence, portfolio construction, risk management and multiple levels of position-based monitoring and reporting, says Richard F. Brueckner, chairman of Pershing LLC. These capabilities complement Pershings core managed account strategy, recently enhanced with the acquisition of PNC Managed Investments, which focuses on providing managed account solutions for broker-dealers and investment advisors to enable them to service their retail and high-net-worth clients
Kenneth S. Phillips, CEO and founder of HedgeMark, says transparency, liquidity, control, governance and better risk monitoring are key to successful hedge funds. The HedgeMark platform was built to help financial institutions meet the emerging fiduciary standards, providing what we believe to be the industrys leading suite of tools for building and managing diversified portfolios and monitoring risk, Phillips says.
Pershing is rated in Global Custodians annual survey of prime brokers.