The parent company of Gemini Fund Services, NorthStar Financial, has launched a hedge fund administration unit, Gemini Hedge Fund Services, as a new subsidiary.

The parent company of Gemini Fund Services, NorthStar
Financial, has launched a hedge fund administration unit, Gemini Hedge Fund
Services, as a new subsidiary.

Gemini Hedge, the firm said, provides “customized and adaptable” solutions
for hedge fund managers, assisting with middle- and back-office duties,
financial reporting and investor services.

The unit also offers services for managers requiring
frequent liquidity and enhanced reporting capabilities, as well as access to
distribution channels to help launch and distribute hedge funds.

“With more and more hedge funds adopting mutual fund
administration, reporting and accounting standards, our dedicated team is
well-positioned to assist hedge fund managers as they adjust to new regulations
and investor expectations,” said Andrew Rogers, chief executive of Gemini.

David Young, a 24-year veteran of the financial services
industry with extensive hedge fund experience, serves as president of Gemini
Hedge. For eight years, Young was responsible for creating, implementing and
overseeing the operations and service offering of Spectrum Global Fund
Administration.

Between 1998 and 2002, he was chief operations officer of
Chicago-based hedge fund Midland Trading, which used an options
market-making strategy.