First Coverage Inc., a provider of financial information management solutions, has signed on London and Hong Kong-based $2.7 billion hedge fund GSA Capital Partners LLP. Developed by the founders of First Call and Street Events, First Coverage now serves a client base that manages more than USD $2 trillion in assets. "We are thrilled to have GSA Capital as a client. They are a firm that has been at the forefront of an industry-wide movement towards adoption of more efficient tools to better capture, filter and evaluate information," said First Coverage CEO Randy Cass, in a press release.
GSA Capital is a privately held investment management company focused on the development of quantitative models and computerized trading systems. The firm's Alpha Capture Fund was developed specifically to utilize trade ideas generated from investment banks' sales desks. "The sell-side represents a significant source of Alpha provided their information can be properly organized and used," said Dan Squires, partner at GSA Capital, in a press release. "Our decision to go with First Coverage was based on their market leadership within North America and the product's ability to let us effectively aggregate, organize & utilize sell-side information to generate Alpha within our own internal investment process," he added.