State Street Corp. has added portfolio construction tools to its web-based hedge fund-of-fund platform, AlphaFrontier, which also includes custody, fund accounting, cash management, registration, risk services, investor services and credit.

The platform can be customized as a full-service model, a cross-enterprise solution or as a targeted set of services.

“Increasing regulatory and investor demands are prompting more fund-of-hedge-fund managers to seek a bundled third-party administrator, and State Street has long believed in partnering with our customers to provide fund administration services that optimize business processes and help mitigate operational risk,” said Jack Klinck, executive vice president and global head of State Street’s alternative investment solutions group, which has more than $400 billion in assets under administration.

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