Press Releases - 2008

Lighthouse Partners expands GlobeOp partnership to full fund administration

24 Nov 2008

LONDON, NEW YORK AND PALM BEACH GARDENS, FL – 24 NOVEMBER 2008 – Lighthouse Partners, a fund of hedge funds with more than $6 billion in assets under management, will expand its partnership with GlobeOp® Financial Services (LSE:GO.), to a full-service fund administration relationship for all Lighthouse products. GlobeOp, a leading independent provider of business process outsourcing, financial technology services and analytics to the buy-side, already provides middle-, back-office and risk management support for the Lighthouse proprietary managed account program.

More than 20 professionals from the Lighthouse operations team in Florida will work jointly with approximately 85 GlobeOp counterparts in Connecticut, New York State and Mumbai, India to deliver “around the clock” post-trade processing for more than 60 managed accounts and five funds. GlobeOp’s financial technology and scalable human resources will complement Lighthouse’s investment and operational processes, providing highly automated processing and reporting solutions designed to reduce operational risk and increase overall efficiency and transparency.

“After our managed account program and operations team integrated successfully with the GlobeOp middle- and back-office, it was a comfortable, natural next step to upgrade to a full-service relationship,” said Rob Swan, chief operating officer at Lighthouse. “We now anticipate GlobeOp’s technology and business process innovations will add value through position-level transparency, operational controls, independent valuations and integrated risk reporting. That each is audited to SAS 70 Type ll standards is important to our fund managers and investors alike.”

“During the past three and half years Lighthouse has strategically converted from the standard fund of fund model to a managed account model that we believe will be the future of hedge fund investing,” said Sean McGould, Lighthouse president and cochief investment officer. “Our team has developed strong portfolio and risk management skills over the last 15 years. Combining that expertise with managed account investing is already providing the increased transparency and risk reporting required by institutional investors.”

Rob Swan added that the long-term, continued growth of the Lighthouse program required an established partner to effectively handle post-trade processing, administration and reporting. “GlobeOp most effectively met our criteria for scalable and efficient processing of increasing trade volumes. Underlying Lighthouse managers already greatly benefit from the integration with GlobeOp’s comprehensive, web-based middle- and back- office trade processing services. This partnership also provides our fund managers and investors with the increased independence, timeliness and transparency they require.”

“We are pleased to be strengthening our relationship with Lighthouse Partners to provide full fund administration services,” said Vernon Barback, GlobeOp president and chief operating officer. “As they continue to strategically expand managed accounts, we look forward to underpinning their fund managers with a robust infrastructure and flexible services. GlobeOp’s continuous investments in people, processes and technology are designed to provide clients like Lighthouse Partners with quality services and a long-term competitive advantage.”

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Notes to Editors

About Lighthouse Partners
Founded in June 1999, Lighthouse Partners is a fund of hedge funds with more than $6 billion in assets under management, over 65 employees and offices in Palm Beach Gardens, Chicago, New York, London and Hong Kong. Lighthouse manages multi-strategy fund of funds along with a stable of focused funds across Credit, Global Equity Long/Short, and Managed Futures. Currently, Lighthouse also has over 60 managed accounts and five funds that are structured wholly in managed accounts. Further information: www.lighthousepartners.com.

About GlobeOp Financial Services®
GlobeOp Financial Services ® (LSE:GO.) is a leading, independent financial technology specialist providing automated, integrated middle- and back-office, administration and risk reporting services to hedge funds and asset management firms—including banks, insurance companies, mutual & pension funds and proprietary traders. Clients trading a wide range of asset classes and derivatives outsource to GlobeOp to reduce technology investments and operational risks, and to focus resources on asset generation and portfolio management. Established in 2000, GlobeOp today serves more than 180 clients worldwide, representing $108 billion in assets under administration (AuA). With headquarters in London and New York, GlobeOp employs approximately 1,800 people on three continents; offices are also located in Dublin, Ireland; George Town, Cayman Islands; Harrison, NY and Hartford, CT, U.S.A.; and Mumbai (Bombay), India. Further information: www.globeop.com

Media Contacts
GlobeOp Financial Services

Natalie Shamshoum
Team 660, Metia
+44 20 3100 3655
natalie.shamshoum@metia.com

Sheryl Lee
Metia
+1 917 320 6462
Sheryl.Lee@metia.com