ConvergEx Group’s prime services business NorthPoint has established a new division. The new alternative mutual fund services unit will focus on the formation, performance and management of alternative mutual funds. The division will work with traditional mutual funds and hedge funds that seek to set up alternative mutual funds. Customers will be able to raise assets, optimize performance and manage funds in compliance with 1940 act regulations. Jay Jacobs, former partner at Merlin Securities, has been appointed to head the division.
Click here for the release from PR Newswire.