New York (HedgeCo.net) - Hedge fund manager and investor, Concept Capital Markets, LLC., has been acquired by hedge fund broker/dealer Alaris Trading Partners, LLC.“Bringing our two companies together will allow us to capitalize on each other’s best practices, enhance our already high level of customer service, and provide our customers with an expanded offering” Jack Seibald, co-founder and Senior Managing Director of Concept Capital, said.
“This business combination will provide our customers with additional custodial options, and importantly, seamless risk management and reporting technology” Darren Day, President and co-founder of Alaris, added.
The terms of the transaction, which is pending approval by the Financial Industry Regulatory Authority, were not disclosed. The combined company will offer institutional brokerage services to hedge funds, asset managers, and registered investment advisers on a global basis.