Equinoxe Alternative Investment Services has merged with MadisonGrey to create a hedge fund administrator with combined assets under administration of over USD7bn.

This increased size will enable servicing of funds onshore in the US through the Atlanta office, as well as offshore in Bermuda, Cayman, Mauritius, and in Europe through Ireland.

The new US entity, to be known as Equinoxe Alternative Investment Services (USA), will increase to 50 the number of employees across the five Equinoxe offices servicing 150 funds.

Stephen Castree, chief executive of Equinoxe, says: “We are thrilled to be able to create a global force through this strategic merger. The integrated companies will extend the full service platform onshore in the US, a cornerstone of our expansion plans, whilst continuing to leverage our institutional technology capabilities with a highly focused boutique service model, our key differentiator in the market.”

Charles Thornton, president of MadisonGrey, adds: “The benefit to our clients of this merger will be seen in the expanded international geographic reach, additional technology and services, plus the greater resources that we can offer as a combined group.”

Equinoxe is a service provider founded in 2007. Headquartered in Bermuda, with offices in Bermuda and Dublin and a license to operate in Mauritius, and Singapore scheduled to open during 2011, it is a full-service alternative investment fund administration company.

MadisonGrey is a provider of fund administration services to the alternative fund marketplace with offices in New York, Atlanta, Cayman and Dallas.