Hedge Funds Club: Prime Broker pushes for market share as banks exit

Leading multi-asset prime brokerage business, Invast Global has rebranded to 26 Degrees, repositioning itself to gain market share in the billion-dollar industry as broker-dealers, hedge funds and family offices are left out in the cold by the shakeout in the prime brokerage market.

Prime services, estimated to be a US$20 billion industry, and once the domain of global investment bank behemoths, has become increasingly fragmented over the last five years. The number of global players is rapidly diminishing, with further reductions expected as providers implement the BASEL III/IV regulatory changes. 

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