Key Takeaways
- • Hazeltree announced an expansion of its zConnect bank connectivity platform, aimed at hedge funds, private equity firms, and fund administrators.
- • zConnect now connects to thousands of banks worldwide through partnerships with FIDES and Necto, according to the company.
- • The platform automates data flows between alternative managers and banking partners, cutting manual intervention and providing real-time cash visibility.
- • Hazeltree's private equity clients often manage hundreds of banks across complex legal entity structures, including subscription line financing, cash, and capital calls.
- • Paul Gallant, Hazeltree Chief Product Officer, positioned zConnect as setting a new standard for bank connectivity in alternative investments.
Summary
Hazeltree, a provider of integrated treasury and liquidity management solutions for the alternative asset management market, has announced the expansion of its zConnect platform, according to a Business Wire release dated October 21, 2024. The company says the expansion strengthens its global bank connectivity capabilities, with the stated goals of improving fund performance and enhancing efficiency, security, and operational control for hedge funds, private equity firms, and fund administrators.
According to the release, zConnect has long supported large, complex hedge funds by connecting them with prime brokers, custodians, and ISDA counterparties. As Hazeltree has grown, the platform has been extended to private equity firms that require intricate global banking relationships. Through partnerships with FIDES and Necto, zConnect now connects to thousands of banks worldwide, which the company describes as one of the most comprehensive bank connectivity networks in the industry.
The release emphasizes that automating the flow of financial data between funds and banks removes manual steps, reduces errors, and provides real-time visibility into cash positions. Hazeltree says this supports liquidity management, securities financing, faster reconciliation, and standardized data exchange. For hedge funds using prime brokers with API-enabled platforms, zConnect complements those integrations; where APIs are not supported, Hazeltree's P2P connectivity is positioned as a standard solution for managing ISDA collateral and other activities.
For private equity managers, the company notes that clients often manage hundreds of banks across multiple legal entities and investments spanning private and public markets. Hazeltree states that zConnect helps these firms manage subscription line financing, cash, liquidity, and capital calls, and supports compliance with evolving regulatory standards.
Paul Gallant, Hazeltree Chief Product Officer, said that bank connectivity is central to the firm's value proposition and that the expanded capabilities set a new standard for the alternative investment market. The release did not disclose financial terms of the expansion or client counts.
According to the release, zConnect has long supported large, complex hedge funds by connecting them with prime brokers, custodians, and ISDA counterparties. As Hazeltree has grown, the platform has been extended to private equity firms that require intricate global banking relationships. Through partnerships with FIDES and Necto, zConnect now connects to thousands of banks worldwide, which the company describes as one of the most comprehensive bank connectivity networks in the industry.
The release emphasizes that automating the flow of financial data between funds and banks removes manual steps, reduces errors, and provides real-time visibility into cash positions. Hazeltree says this supports liquidity management, securities financing, faster reconciliation, and standardized data exchange. For hedge funds using prime brokers with API-enabled platforms, zConnect complements those integrations; where APIs are not supported, Hazeltree's P2P connectivity is positioned as a standard solution for managing ISDA collateral and other activities.
For private equity managers, the company notes that clients often manage hundreds of banks across multiple legal entities and investments spanning private and public markets. Hazeltree states that zConnect helps these firms manage subscription line financing, cash, liquidity, and capital calls, and supports compliance with evolving regulatory standards.
Paul Gallant, Hazeltree Chief Product Officer, said that bank connectivity is central to the firm's value proposition and that the expanded capabilities set a new standard for the alternative investment market. The release did not disclose financial terms of the expansion or client counts.
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