AlphaHedge Capital Partners, LLC, a Blue Bell, PA-based provider of access to long/short equity strategies through separately managed accounts (SMAs), received a strategic investment from Envestnet, Inc. (NYSE: ENV).
The terms of the transaction, which closed on April 1, 2015, were not disclosed. In conjunction with the transaction, Bill Crager, President, Envestnet, will join AlphaHedge’s Board of Directors.
Led by Kent G. Bonniwell, President and Chief Operating Officer, and Gregory S. Horn, Chairman and Chief Executive Officer, AlphaHedge is a liquid alternatives platform providing access to strategies from a select group of Long/Short Equity managers in a custodian agnostic, Separately Managed Account format. The platform has been live since February 2015 and is currently running accounts for five strategies launched on two major custody platforms.