LaCrosse Global Fund Services of London was selected to provide operations services to Primergy Capital Partners LLP.
Primergy, also of London, was established in 2007 to focus on opportunities in the European energy markets, with an emphasis on power, gas, and emissions trading. It had outsourced derivatives operations, cash management, and collateral management to LaCrosse.
Drew Hunt, Primergy's chief executive officer, said in a press release Monday: "We wanted to partner with an organization that would give us the operational controls and access to a scalable platform, with a variable cost structure, that would serve both our existing business and also new funds that we plan to launch in the future. LaCrosse's reputation and capabilities were important factors in the selection process."
LaCrosse provides operations, middle-office, and administration services to managers of complex hedge funds.
It has more than 300 employees in offices in Bogota, Buenos Aires, Caracas, Istanbul, London, Minneapolis, Moscow, New York, Sao Paulo, and Singapore. It has $13 billion of assets under administration.