ConvergEx steps into the prime brokerage space

New York-based ConvergEx is set to acquire prime brokerage business NorthPoint Trading Partners. With this acquisition, ConvergEx will offer small and medium sized hedge funds access to a range of prime brokerage services through NorthPoint's high-touch service model and established clearing and custody agreements. NorthPoint will continue to be based in Atlanta, and all of its clearing and custody arrangements, products, partnerships and projects will continue uninterrupted.