Benchmark (USA), an alternative investment manager with over USD1.7bn in assets under management, has retained Prime Fund Solutions, an administrator in the alternative asset management industry, to provide administration, custody and financing services for its funds of hedge funds.

“With the investment community seeking ever greater transparency, the need to work alongside a strong, third party administrator became imperative to us,” says Judd Lee (pictured), chief financial officer of Benchmark Plus Management.

“We are very excited to partner with such a formidable firm that is committed to the long-term prospects of the alternative industry,” adds Rhonda McDeigan-Eldridge, regional director, sales and relationship management for Prime Fund Solutions. “Our team has developed a great rapport with Benchmark, we understand their business and are committed to ensuring a smooth transition to our service platform.”

Prime Fund Solutions is part of Fortis Bank Nederland.