AltsOps 2023 Q&A: Anthony Mascia, EFSI
Anthony D. Mascia of EFSI will be speaking at AltsOps 2023, on both the private markets and hedge funds days. AlphaWeek’s Greg Winterton caught up with Anthony to learn more about EFSI and to get his thoughts on the year in the alternative investment industry so far.
GW: Anthony, first of all, for those who might not be familiar with EFSI, tell us a little bit about your firm.
AM: We’re a SOC1-compliant, independently owned fund administration and cash management business. Our clients are alternative investment fund managers in the hedge fund, private debt, private equity, real estate and venture capital industries. We also have a division that supports family offices specifically with their middle and back-office infrastructure. We’re based in New York and New Jersey, but we have clients across the globe.
GW: What’s your view on how the hedge fund industry has done so far this year?
AM: I think it’s been a bit of a rollercoaster. If you look at the data providers, most of them say that the average hedge fund is up this year. There are nuances to that of course, in terms of equity and event-driven strategies faring better than macro, for example. But there have also been significant events in financial markets this year, that weren’t easily predictable. I think that H1 has been solid if not spectacular, but I think that H2 should fare better as macroeconomic factors suggest opportunities for alpha generation.
GW: Same question, but for private markets.
AM: Well obviously two stories have dominated in private markets this year – the banking crisis in the spring in venture and the potential issues in commercial real estate. I’m an optimist so I’d rather focus on the positives, which is that we’re seeing good activity in terms of new launches in multifamily real estate and we’re still seeing independent sponsors on the PE side launching new funds. There are still good opportunities for opportunistic investors and family offices are still interested in deploying capital to quality new launches. In the same vein as the hedge fund space, assuming there are no other macroeconomic shocks this year, I’d expect fundraising and deal activity in all subsets of the private markets to pick up through the end of the year and into early 2024.
GW: Lastly, Anthony, what about EFSI? Any specific plans for the coming 12-18 months?
AM: I wouldn’t say that we have anything specific planned. We’ve been growing solidly since we launched, even through Covid, and it’s a case of continuing to serve our clients as effectively as we can. We’ve announced a series of new partnerships this year, which are mainly with technology firms, as we look to incorporate their products and services into our offering. We’re big on tech, and that’s something that you can expect to see continue.
Anthony D. Mascia is Managing Partner at EFSI
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