Hedge fund placement firms Liability Solutions and MIT Associates have plans to merge and form a new company. The two firms have collectively raised $12 billion since launching in 2000 and 1987, respectively.
The new firm will operate under the Liability Solutions name and will focus on the U.S., Europe and the Middle East. Coverage will run the gamut from funds of funds, endowments and pension funds to private banks, private investment funds and sovereign wealth funds. The firm will also offer research on specific hedge funds. MIT Associates will handle institutional marketing and distribution relationship management with North American-based hedge fund managers.
The new president, Mike Finnell, will
join the board of directors of the new firm, along with colleague Drew Otocka.
Peter Hamilton, incumbent managing partner of MIT.
