FOR IMMEDIATE RELEASE
Barclay Group Acquires AAC Database
Will Create World’s Largest Hedge Fund Database
FAIRFIELD, Iowa, September 5, 2006 – The Barclay Group, a leading independent provider of alternative investment research data, announced today that it has purchased the Alternative Asset Center (AAC) database, creating the world’s largest database of hedge fund performance.
“Integration of AAC and Barclay data will enable us to provide up-to-date monthly performance figures on nearly 7,000 hedge funds,” said Sol Waksman, founder and president of The Barclay Group. “Our internal database now maintains information on over 12,000 alternative investment vehicles.”
According to current industry estimates, there are 10,500 active hedge funds with more than USD 1.4 trillion in combined assets. Analysts expect hedge fund assets to triple during the next decade.
“Given the dramatic growth of hedge funds in recent years, sophisticated investors need up-to-date and reliable tools to properly evaluate this sector,” says Waksman. “Barclay will now be able to deliver accurate and timely performance data on more hedge funds than any other provider in the industry.”
The combined resources of Barclay and AAC will be utilized to produce the 6th annual Directory of Fund of Hedge Funds scheduled for release in November and to maintain an exhaustive product line that includes analysis software, proprietary indexes, publications, reports, and electronic data feeds.
The Barclay Group was founded in 1985 to increase transparency in hedge fund and managed futures investing and has created 26 proprietary indexes. Barclay provides hedge fund and CTA performance data to institutional investors, brokerage firms, and private banks worldwide.
AAC was established in 1999, and quickly constructed the largest proprietary fund of hedge fund database in the industry. Three well-known AAC products will be added to Barclay’s product line: the annual Directory of Fund of Hedge Funds, the Fund of Hedge Funds DataFeeder, and the Alternative Investment Manager DataFeeder.
“Barclay is perfectly positioned to expand and diversify our existing product offerings,” said Nicolas Berner, Chief Operations Officer of Alternative Asset Center. “Consolidation directly benefits our combined subscriber base, and broadens support for the asset managers who rely on our services.”
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About The Barclay Group
The Barclay Group, founded in 1985, currently tracks more than 6,000 hedge funds and managed futures programs. Barclay has created and regularly updates 18 proprietary hedge fund indexes and eight managed futures indexes. Institutional investors, brokerage firms and private banks worldwide utilize Barclay’s indexes as performance benchmarks for the hedge fund and managed futures industries.
About Alternative Asset Center
AAC was established in 1999 to provide accredited investors with specialist information on multi-manager hedge funds and released the industry’s first Directory of Fund of Hedge Funds in 2001. AAC has quickly grown to become the largest proprietary hedge fund of funds database in the industry.