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Envestnet Makes Strategic Investment in AlphaHedge Capital PartnersCHICAGO, April 9, 2015 /PRNewswire/ -- Envestnet, Inc. (NYSE: ENV) has announced a strategic investment in AlphaHedge Capital Partners, LLC, which provides access to long/short equity strategies through separately managed accounts (SMAs). Terms of the transaction, which closed on April 1, 2015, were not disclosed. "I often hear in my conversations with advisors that they are concerned about volatility across their portfolios, in equities and bonds, as well as the cost of sitting in cash. Long/short equity strategies which were previously only available through traditional hedge funds may be an alternative to consider," said Bill Crager, President, Envestnet. "AlphaHedge delivers a unique platform, offering these strategies in separately managed accounts. We have partnered with them in accordance with our commitment to providing advisors with open access to a wide range of products and solutions." Mr. Crager will serve on AlphaHedge's Board of Directors. The SMAs on the AlphaHedge platform are distinguished by:
"AlphaHedge's institutional-quality platform is built to deliver the intellectual capital of long/short equity managers to advisors and their clients in a scalable manner, while seeking to minimize the operational risks that can make them reluctant to utilize hedged strategies," said Kent G. Bonniwell, President and Chief Operating Officer, AlphaHedge. "Envestnet shares our dedication to ongoing innovation and product enhancements, and we look forward to working with them to deliver carefully selected long/short equity strategies to advisors and investors." AlphaHedge conducts rigorous manager due diligence in concert with the alternative strategies research team at its affiliate, Persimmon Capital Management, LP. AlphaHedge continues to leverage Persimmon's experience managing hedge fund portfolios, a hedge fund of funds complex, and a multi-manager long/short equity mutual fund to attract hedge fund managers of all sizes and development stages to its SMA platform. "In today's environment, where hedge fund flows are disproportionately captured by larger players, AlphaHedge offers a new channel for small funds to focus on the management of client assets while working with a partner to help scale the servicing of individual investor accounts," said Gregory S. Horn, Chairman and Chief Executive Officer, AlphaHedge. Mr. Horn and Mr. Bonniwell, the founders of AlphaHedge, also co-founded ADVISORport, a leading third-party managed account platform that pioneered key advances in the managed account industry. About Envestnet Envestnet's Advisor Suite® software empowers financial advisors to better manage client outcomes and strengthen their practices. Envestnet provides institutional-quality research and advanced portfolio solutions through our Portfolio Management Consultants group, Envestnet | PMC®. Envestnet | Tamarac provides leading rebalancing, reporting, and practice management software. For more information on Envestnet, please visit www.envestnet.com and follow @ENVintel (https://twitter.com/envintel). About AlphaHedge For more information on AlphaHedge, please visit www.alphahedge.com. Envestnet and AlphaHedge are unaffiliated firms. Media Contact: Logo - http://photos.prnewswire.com/prnh/20110321/NY68085LOGO To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/envestnet-makes-strategic-investment-in-alphahedge-capital-partners-300063332.html SOURCE Envestnet, Inc. |