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Practice Management > Building Your Business

Black River to Create Alt-Invest Products for Institutions

By Staff Writer

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MINNEAPOLIS, Minn. (HedgeWorld.com)–Cargill Inc.’s Global Capital Markets has launched a new asset management company, Black River Management LLC, with design and implementation assistance from Capco.

Black River will create alternative investment products for institutional investors.

Capco has provided, and will continue to provide, design and implementation advice to Cargill and Black River, including assistance in the evaluation and selection of third-party vendors for both technology and services.

“Capco’s in-depth understanding of the operational and control requirements of hedge funds enabled us to quickly and effectively establish a world class superstructure for supporting Black River,” said Kok-Ying Lee, Black River’s head of operations and financial control, in a joint statement by Capco and Cargill Dec. 10.

Capco, which is a registered trademark of The Capital Markets Company NV, provides consulting and operational assistance to financial services firms worldwide Previous HedgeWorld Story.

Christopher Kundro and Stuart Feffer, co-heads of Capco’s private client and asset management practice, said in the statement Wednesday that Capco has been impressed by Cargill’s business philosophy during discussions on the creation of Black River. Messrs Kundro and Feffer are the authors of the March 2003 study, “Understanding and mitigating operational risk in hedge fund investments.”

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