Where private cloud providers used to appeal only to start-up hedge funds, a third of Abacus's new clients are large funds with existing IT staff.
The decision by South Ferry Capital Management to completely forgo an IT staff was not an unusual one when the New York hedge fund launched in late 2010. With assets under management of just under $100 million and a payroll of six, it had no desire to keep servers in-house, or hire someone to look after them. Hosted services were picking up steam by that point, and many small shops were coming to the same conclusions.
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Waters Technology: Private Cloud not Just for Tech-Less Funds Anymore