Abacus Group Acquires Hedgepoint Solutions

Abacus Group, a leading provider of hosted IT solutions and application hosting for alternative investment firms, has completed the acquisition of Hedgepoint Solutions, a boutique IT consulting firm based in New York City.

“Abacus Group has been doing some amazing things in the hosted IT space, growing not just throughout the US but also internationally into the European market. I’m excited for us to integrate with such an innovative company,” said Vick Manocha, Managing Director of Hedgepoint Solutions.

Founded in 2001, Hedgepoint Solutions has provided a wide array of technology services to businesses across various industries and sectors, with a particular focus on hedge funds, venture capital and private equity firms. Per the acquisition, Hedgepoint’s existing clients will now benefit from the extensive capabilities and features of the award-winning Abacus Cloud platform.

“Hedgepoint has developed a great reputation for providing stellar service to their hedge fund, venture capital and private equity clients,” said Chris Grandi, CEO of Abacus Group. “We are very excited to join forces to continue our efforts to provide leading edge technology services to the alternative investment management market.”

Related articles

  1. From The Markets

    Virtu Closes ITG Purchase

    The market maker will start a client information security program as part of the integration.

  2. The $42 million cash and stock deal will strengthen the investment bank's insitutional equities business.

  3. The deal has resulted in broader IT services for hedge funds and private equity clients.

  4. The exchange gains trading and index platforms via the deal.

  5. The vendor eyes increased technology capabilities and a broaden product portfolio.