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Friday, August 19, 2005

Fund Servicer Branches out

by: Theresa Sim

Gemini Fund Services is eyeing the hedge fund market. The New York-based subsidiary of NorthStar Financial Services Group is looking to offer compliance services to smaller hedge funds, reports Reuters.

While State Street and Bisys have the larger hedge fund market covered, the smaller market is being neglected, Michael Miola, NorthStar founder and co-chairman told Reuters.

The firm will target hedge funds with approximately $20 million to $500 million in assets, according to Reuters.  

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