Fulcrum and 3i partner to realise the premium hedge fund administrator's potential. 3i's investment will realign shareholders' interests and provide capital to accelerate revenue growth and international expansion.

Technology, people and service
When Fulcrum was established in Bermuda in 1995, its founders understood that leading-edge technology was vital to world-class hedge fund administration. The increased complexity of products managed by hedge funds has placed increased demands on fund administrators. Outsourcing administration to independent providers such as Fulcrum enables hedge funds to give all investors, regulators and auditors a high degree of confidence. Fulcrum's commitment to continuous development of proprietary software has allowed it to maintain global leadership in the automation of fund administration processes. In May 2003 Glenn Henderson joined, initially as Director of Business Development and subsequently as CEO. Under Glenn's leadership Fulcrum established offices in New York, London, Canada, India and the Cayman Islands. The number of funds under administration exceeded 60 and annual revenue growth exceeded 70%.

A Partner for Growth
When Fulcrum's owners decided to select a new partner for growth, 3i's connections with the financial services sector made it an obvious choice, leading to 3i's $57m investment in June 2007. Whitney Bower, Partner, 3i Growth Capital, saw a logical fit. "Globally 3i has a strong understanding of financial services outsourcing. Fulcrum has an attractive business model, proprietary technology and the personnel in place to advance operations."

Whitney Bower will join the Board as Director, Glenn Henderson will become Chief Sales Officer and Akshaya Bhargava will become the new CEO. Akshaya has a strong track record in business process outsourcing (BPO) and has been instrumental in identifying and leading two of 3i's other BPO investments. With 3i's investment, Fulcrum will focus on expanding their sales-force, adding new middle-office products to their range and - using 3i's global network -  expanding the business in Europe and Asia.

"Fulcrum is one of the most exciting companies in the market and 3i will be instrumental in leveraging this investment by drawing on its direct management expertise and global footprint to augment and expand Fulcrum's service offering in Europe and Asia." Akshaya Bhargava, CEO, Fulcrum