Start-Up Hedge Fund
The Situation
A leader in the industry that manages more than $14 billion in assets via more than
60 investment products wanted to start a hedge fund. This dominating force in the
industry lacked the systems and processes required for providing thousands of monthly
reports to the partnerships investing in their fund.
How Gemini Helped
Gemini used our robust open-architecture technology to not only maintain the books
of the hedge fund but to also provide the complex monthly financial statements the
partnerships required. Gemini continues to provide administrative and accounting
support to the fund by performing various duties including calculating the daily
NAV for the hedge fund and preparing partnership Federal tax returns and individual
partner K-1s.
The Benefits
Gemini was able to save the client money by providing the administration and accounting
services, including the cumbersome partnership reports. Due to Gemini's comprehensive
services, our client did not have to invest in expensive technology or change their
processes in order to start and maintain their hedge fund. Our client was able to
get their fund to market quickly, saving time by not having to learn all the regulatory
guidelines for hedge funds because Gemini performed those duties for them.