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20 Sep 2010

Dublin As A Center Of Hedge Fund Expertise

HedgeCo News New Jersey-based hedge fund service provider Fi-Tek LLC has chosen Dublin for it's European headquarters. "Ireland's pro-business environment, availability of highly skilled personnel, the presence of many of our clients, and working with IDA were the key reasons Ireland was chosen as the location for our European Headquarters." Peter Marshall, Managing Director, Fi-Tek Ireland said.

The company provides software products and solutions for the alternative investments, trust, asset servicing and securities processing industries. The company's HedgeTek product, a fully integrated book and tax allocation platform for hedge funds, covers both US partnerships and unitised funds, is used by many of the leading hedge fund administrators, accounting firms and fund managers servicing over 3,500 funds with over $400 billion in assets..

"Ireland is the largest hedge fund administration centre in the world with almost half of all global alternative investment funds operated from here." Ireland's Minister for Enterprise, Trade and Innovation Batt O'Keeffe said, "Fi-Tek's decision to establish a European headquarters in Dublin shows we can out-perform rival locations for major global investments in the financial services sector. More than half the world's leading financial services firms now have operations in Ireland."

"Fi-Tek Ireland has recently gone live implementing HedgeTek with two leading global banks in Dublin," stated Subir Chatterjee, Fi-Tek founder and CEO. "Dublin has become a center of expertise for hedge fund administration globally, and our intent is to make Fi-Tek Ireland a centre of excellence for us as well."

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