State Street has been selected by LibreMax Capital to provide fund administration services for its newly launched hedge fund.

LibreMax Capital was founded by former Deutsche Bank executives Fred Brettschneider and Greg Lippmann.

International Fund Services, State Street’s hedge fund administration company which is part of its alternative investment solutions group, provides administration services to the fund which was launched in October.

“Appointing State Street to provide our new fund with administration services enables us to focus entirely on achieving investment results,” says Lippmann. “State Street’s proven track record of servicing some of the most complex hedge funds in the industry made it the clear choice for this assignment.”

“In today’s highly competitive market with increased demand for transparency, more hedge fund managers are electing to use third party providers for their administration requirements,” adds George Sullivan, executive vice president of State Street’s Alternative Investment Solutions group. “State Street has a wealth of experience servicing a range of hedge funds, and we look forward to building a productive partnership with LibreMax Capital.”