HazelTree Fund Services, a New York-based provider of technology products and supporting services that enable hedge funds to reduce operational costs, improve risk management, and increase fund performance, has received a $6m equity investment from Bendigo Partners, LLC.
The capital from this majority acquisition will fund the upcoming commercial launch of HazelTree products and services.
Formed in January 2009, Bendigo Partners provides investment and operating partner support for global, technology-driven financial services companies and HazelTree is its first acquisition.
Bendigo closed its first round of funding in June 2009 and is structuring a new fund it anticipates closing in the first half of 2010.
Michael Deleray, Bendigo founding partner, will serve as HazelTree’s interim chief executive officer while a search for a permanent CEO is conducted.