
Hedge funds targeted by Summit-CoVision alliance
Summit Systems, a New York-based trading, risk management and straight-through processing vendor, and CoVision Capital Group, an investment management firm, have partnered to provide an investment platform specifically geared towards hedge funds.
Brian Zipp, one of CoVision’s founding partners, said the response to the alliance by hedge funds in New York has been promising, although he did not comment on new signings.
"The growing complexity and speed of markets, as well as increased investor focus on risk, make sustainable [hedge fund] manager success more difficult to achieve," Zipp said. "Creating an operating infrastructure typical of major financial institutions is becoming increasingly important in building a successful hedge fund business."
CoVision offers hedge funds services including institutional capital raising, trade processing, portfolio and risk analytics, and legal and accounting functions. It also specialises in delivering market and operational risk management to institutional investors.
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