Quadrangle in the News: Hedge Fund Alert
“Vendor Tracking Tool catching On”
Vendor Tracking Tool Catching On
Some 300 clients have signed up to use their program, called QDS Platform, since it rolled out in 2018. Another 100 have subscribed this year to a related service through which New York-based Quadrangle offers updates on developments at vendors and allows users to run queries on contracts their peers are considering.
QDS allows clients to upload their vendor contracts and keep tabs on those relationships. Quadrangle, meanwhile, extracts the data and allows users to compare the contracts’ provisions to provisions typical of other service providers, both as a whole and by company type.
The subscription costs $400 per month, plus a couple hundred dollars for extraction and analysis of data from each contract. The users mainly are hedge fund operators with at least $25 million of assets but include other large asset managers, along with insurers and family offices.
Quadrangle formed in 2013, offering a service aimed at positioning alternative-investment managers their financing and swap-trading arrangements. The firm is led by Michael Katz, formerly of S3 Partners and Paloma Partners.