Small and mid-sized hedge funds in search of a prime broker have no shortage of options.
The proliferation of mini-primes catering to smaller hedge funds continues apace. Independent investment banks like Cantor Fitzgerald and Lazard are following the lead of Jefferies and entering the prime brokerage fray.
However, the trend may be short lived. Industry insiders say the market for mid- and lower-tier prime brokers is already crowded and ripe for consolidation. Hedge funds in need of a prime bro