NorthStar said the platform offers risk management and monitoring, distribution, fund structuring, liquidity enhancement and operational set-up services from a single location.

The firm added that it also performs due diligence on all funds and managers, while its portfolio and risk management technology provides near real-time data.

For example, managers can obtain daily net asset value and liquidity, and select their own prime brokers, futures commission merchants and administrators.

David Young is president of Gemini Alternative Funds as well as Gemini Hedge Fund Services, another newly-launched NorthStar subsidiary (view here).

For eight years, Young was in charge of creating, implementing and overseeing the operations and service offering of Spectrum Global Fund Administration. He also served as chief operations officer of Chicago, IL-based hedge fund Midland Trading between 1998 and 2002.

While Gemini Alt is headquartered in Chicago, where Young is based, Young will also work with Gemini’s existing Hauppauge, NY-based alternative and hedge fund services team.