Fast-growing Bermuda-based fund administrator Equinoxe Alternative Investment Services Ltd today announced a strategic relationship with Asia-focused HFO Pty Ltd that opens up significant expansion opportunities.

HFO, a hedge fund services provider with offices in Hong Kong and Australia, decided after a strategic review to offer its clients the opportunity to transition to Equinoxe’s global business platform, offering middle and back office outsourcing, full administration services and customised reporting, according to a press statement from the two companies.

Equinoxe started up in Bermuda seven years ago and continues to be headquartered on the Island. The firm has expanded to have offices in Ireland, Malta, Atlanta, Mauritius and Singapore, as well as its Hamilton offices on Bermudiana Road.

Equinoxe, which has $15.5 billion in assets under administration, said it has achieved a 50 percent increase in assets in the past year.

The firm has focused on providing highly customised service and limiting the pace of taking on new clients to ensure it can maintain its standards. Equinoxe will expand its geographic reach through the HFO agreement.

Equinoxe CEO Stephen Castree said: “HFO have developed an excellent product suite with clients in Hong Kong and Sydney. As the management team evaluated the market they decided to offer their clients the opportunity of moving to a larger service provider.

“We are delighted that HFO have selected Equinoxe to be its partner going forward. Our continued focus on highly customised service and bespoke reporting has led to a 50 percent growth in assets in the past 12 months. This growth is poised to continue with further significant assets being added in the coming months.

“Our development in Asia will be enhanced materially through the relationships with HFO and we are delighted to be able to give their clients the opportunity to enter the Equinoxe fold.

“We anticipate opening further offices in the coming 12 months driven by the increasing volume of our North American business. Working closely with our clients, the development of our consulting approach to middle office services and technology integration has resulted in several substantial new mandates in North America.

“As ever, maintaining a controlled rate of growth with excellent customer service remains our principal objective, with each office only taking on two to three clients per quarter.”

HFO CEO Daniel Bower said: “Equinoxe has an excellent reputation for superior service and institutional technology driven by a team of well-regarded and highly experienced professionals. These values are core to HFO. Following the strategic review of the HFO business, HFO is very positive to have reached a strategic relationship with Equinoxe, offering our clients its global presence, SOC1 certification and the option of fund administration services driven by the common Advent Geneva fund accounting platform.

“HFO continues to build its institutional style managed account platform whilst establishing this new chapter with Equinoxe.”