Prequin: 39% of hedge funds changed prime brokers, 19% changed fund custodian in 2016

Fund administrators, custodians, prime brokers, auditors, law firms and fund marketers all play a crucial role in allowing hedge fund managers to operate their businesses effectively. The service provider industry is continually changing as new players enter the market and existing firms consolidate and develop their range of offerings. Fund managers and service providers alike need to continually review the market in order to ensure that they are fully taking advantage of available opportunities.

In this report, we present analysis of the latest trends in the hedge fund service provider industry, informed by Preqin’s survey of over 270 hedge fund managers in November 2016 and data on over 2,000 hedge fund service providers from Preqin’s Hedge Fund Online database. We examine the leading service providers by number of fund manager relationships as well as which service providers have been most successful with new fund launches. Although these initial relationships are important, fund managers continually review their service provider relationships, and so we also show the main reasons why fund managers have changed their providers.

The full report is available at https://d3k9pt3r5jsyv9.cloudfront.net/docs/reports/Preqin-Special-Report-Hedge-Fund-Service-Providers-May-2017.pdf

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