Fidelity Prime Services announced a strategic relationship with Stone Coast Fund Services, an independent, privately-owned fund administrator with over $100 billion in assets under administration (AUA), to create a holistic, end-to-end offering for hedge funds.
It will create a new bundle of solutions for established and emerging hedge funds to consider, including prime brokerage access, fund administration, and access to Fidelity’s PB Optimize fintech platform and Stone Coast’s “golden source” data.
“Cutting-edge technology and exceptional client service are what both Fidelity and Stone Coast continually strive to deliver to our clients,” said James Coughlin, senior vice president at Fidelity Prime Services, in a statement. “This strategic relationship embodies our joint vision of providing an end-to-end integrated technology offering for fund managers, with cost efficiency and exceptional service at the forefront.
The bundled offering includes access to Fidelity’s PB Optimize financing and treasury platform and Stone Coast’s golden source fund data, creating operational synergies and real-time insights for clients to make the most well-informed decisions for their portfolios. It delivers improved economics and cost efficiencies for hedge funds through the combination of prime brokerage and hedge fund administration services, allowing funds to focus less on administrative overhead and more on growth and investment strategies.
Marc Keffer, founder and principal of Stone Coast Fund Services, said in a statement: “By combining our ‘golden source’ fund data with Fidelity’s innovative PB Optimize platform, we are poised to offer clients an integrated solution that enhances portfolio decision-making.”