Chicago-based Galaxy Plus had a busy summer that has culminated in new additional managers on its platform and a new ownership structure.
Added to the managed account platform (MAP) are funds managed by East Alpha, John Locke Investments, PlusPlus Capital Management and Volt Capital Management. The managers join a diverse set of alternative investment vehicles run by over 30 differing firms across managed futures, commodities, hedge funds, foreign equities and derivatives contract investment strategies.
“I’m incredibly proud of the value our team delivered to fund managers and investors this year, growing the assets on the platform by 40% percent. We’re fielding multiple inquires per day from managers looking to expand their distribution channels,” said David Young, president of Gemini Alternative Funds. “With a strong management team and our vast network, we expect tremendous growth in managers, investors and of course assets in 2021.”
The AUM size of the platform has not been publicly disclosed, but the Galaxy Plus platform seeks to work with qualified investors such as RIAs, pensions, mutual funds and family offices to access multiple underlying trading advisors through a centralized platform. The open architecture infrastructure provides investors with an institutional level investing experience through a variety of alternative investment strategies with lower investment minimums, transparency, access to near real-time data, notional funding, risk monitoring and management services, and frequent liquidity, according to the firm.
“The investment strategy we deliver to the wealth management community serves to stabilize and add diversification to traditional portfolios,” said Patrik Safvenblad, chief investment officer at Stockholm-based Volt Capital Management. “With our fund on the Galaxy Plus platform, we’re able to focus on our strategy and know with confidence that Galaxy Plus is a one-stop shop solution for a comprehensive service offering along with distribution efforts.”
Back in August, Gemini Alternative Funds LLC and its Galaxy Plus Platform were purchased by New Hyde Park Alts from Ultimus Fund Solutions, a fund administration firm. The administration as well as the oversight of the platform’s cash control is still handled by Ultimus as a service provider to Galaxy Plus.
“The acquisition of Galaxy Plus strengthens the distribution of the Platform while maintaining the strong, independent operational expertise of Ultimus’ support,” said Peter Getz, managing member of New Hyde Park. “We look forward to using our resources and connections to increase distribution, reach more investors and introduce managers to our existing clients.”