GlobeOp is headquartered in New York and London, was an independent financial technology firm focused on providing external middle and back-office operations, capabilities, and fund administration and risk reporting services to hedge funds and their investors, including fund of funds, institutional investors and family offices. GlobeOp founders experienced the typical start of the task, which included endless hours, technical issues, governance, strategic differences, problems with resources and financial instability. But in December 2003, GlobeOp had grown to nearly 400 people, serving clients from 86 $ 29.6 billion in assets under management (AUM). In addition, GlobeOp done so well that it attracted wide interest of potential investors and competitors. Finally, in autumn 2003, GlobeOp original partners decided to sell a minority portion of TA Associates, a private equity and buyout firm, for $ 82 million. TA Associates brought to GlobeOp because of its important role in the transformation of the hedge fund industry. But despite the initial successes, GlobeOp founders did not want to stop there. They wondered how best to take advantage of the platform, as well as how to maintain market leadership positions in the future GlobeOp. "Hide
by Victoria Chan, Glenn Carroll, David Modest Source: Stanford University, 21 pages. Publication Date: February 5, 2008. Prod. #: OD6A-PDF-ENG
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