Former execs buy Butterfield’s fund administrator
(FinAlternatives): A private equity firm has bought hedge fund administrator Butterfield Fulcrum Group. The new owners, Glenn Henderson and Tim Calveley, former BFG executives plan to house BFG and their existing family office administrative service firm, FORS Ltd., under a single parent company while leaving the two units to operate independently. The deal is expected to close in the first quarter though terms were not disclosed. Henderson and Calveley are intimately familiar with BFG, having helped create the firm two-and-a-half years ago.
Henderson was CEO of Fulcrum Group, which merged with Butterfield Fund Services in the summer of 2008. Calveley served as CFO and chief risk officer, first for Fulcrum and then for BFG. Both left later that year.
Category: Business
