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SOURCE Gemini Fund Services, LLC
CHICAGO, Jan. 21, 2014 /PRNewswire/ -- Gemini Fund Services, LLC (Gemini), an engaged partner to independent advisors as a provider of comprehensive, pooled investment solutions, continues to broaden its array of services available to alternative fund managers. The firm's parent company, NorthStar Financial Services Group, LLC (NorthStar), has launched a new subsidiary, Gemini Alternative Funds, LLC (Gemini Alt), which serves as a centralized platform for delivering a wide range of operational services to the alternative investment community.
The platform offers transparency, risk management and monitoring, distribution, fund structuring, liquidity enhancement and uniform operational set-up services from a single location. By obtaining these services from one source, alternative fund managers can help protect themselves from complex investment activities and increase operating efficiency and accuracy.
"With investors increasingly turning to alternative strategies, more alternative managers are joining managed account platforms to obtain access to the high-level portfolio and risk management services investors have come to expect," said Andrew Rogers, Chief Executive Officer of Gemini. "Gemini Alternative Funds works with managers to not only develop cost-effective solutions based on the unique needs of each fund, but also create competitive fund cost structures."
The firm also performs rigorous due diligence on all participating funds and managers, and its customizable portfolio and risk management technology provides near real-time data. Through its platform, managers can obtain daily net asset value (NAV) and liquidity, and select their own prime brokers, futures commission merchants and administrators. In working with best-of-breed service providers, Gemini Alt can help mitigate the counter-party risk associated with having a single institution overseeing all aspects of fund management.
David Young, who has acquired extensive expertise regarding the hedge fund space during nearly 25 years in the financial services industry, serves as President of Gemini Alternative Funds as well as Gemini Hedge Fund Services, LLC, another newly launched NorthStar subsidiary.
For eight years, Mr. Young was in charge of creating, implementing and overseeing the operations and service offering of Spectrum Global Fund Administration, LLC. In addition, he served as Chief Operations Officer of Chicago-based hedge fund Midland Trading, LLC from 1998 to 2002. While Gemini Alt is headquartered in Chicago, where Mr. Young is based, Mr. Young will work closely with Gemini's existing Hauppauge, N.Y.-based alternative and hedge fund services team, which has more than 60 years of combined experience.
"We are fortunate to be able to draw upon NorthStar's vast and varied technology and expertise to provide customizable solutions that are financially attractive and easily implemented," said Mr. Young. "It is important for alternative managers to know they have a loyal and dedicated full-service partner to turn to when launching their new products amid continually evolving regulations and investor preferences."
For more information about Gemini Alt, please contact them at 312-985-0401. For media inquiries, please contact Dana Taormina at 973-850-7305 or firstname.lastname@example.org.
About Gemini Alternative Funds, LLC
Gemini Alternative Funds, LLC (Gemini Alt) services the investment community as a Managed Account Platform working with dedicated managed accounts and co-mingled funds, as well as a structured product platform sponsor. Gemini Alt provides a comprehensive platform of centralized operational services and distribution of products. The operational services provided directly by Gemini Alt include transparency, uniform operational setup, risk and guideline management and liquidity enhancements. Through our sister firms, Gemini Alt also partners with hedge fund managers for mutual fund creation, compliance of regulated entities, marketing support through print and video materials, and distribution to registered investment advisors.
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