NEW YORK and CONNECTICUT – January 31 - Gravitas Technology, Inc., a leading IT services firm specializing in the alternative investment community (hedge funds & private equity firms), today announced its expansion to Connecticut. For over a decade, Gravitas Technology has been providing a broad range of integrated IT solutions to financial services companies including infrastructure and integration, IT consulting, software development, disaster recovery and compliance technology. In addition, Gravitas also helps in the selection and implementation process of additional requirements like order management systems and portfolio accounting systems through third-party partnerships.
It was recently reported by the Connecticut Hedge Fund Association [CTHFA] that seventeen Connecticut firms recently made Institutional Investor's list of the world's top 100 hedge funds. Connecticut firms manage more than 1/3 of $1 trillion global hedge fund industry total, making Connecticut the number two hedge fund center in the U.S.
Jayesh Punater, CEO and Founder, Gravitas Technology and Vice President of the CTHFA states: “The expansion to Connecticut is fueled exclusively by this immediate need to service the rapidly growing alternative investments market of Fairfield County. Our “white-glove service”, experienced team, and holistic view of technology has become Gravitas’ hallmark, and has been proven through our tremendous success within the New York metropolitan area over the last decade.” Mr. Punater further adds, “Recognizing our clients’ strategies to expand their demographic range and relocate to Connecticut for lifestyle and tax reasons, it was a natural fit for Gravitas to follow suit.”
Over the last few years, Gravitas has refocused its target customer-base to alternative investments and fine-tuned its IT services and solutions for the current market’s needs, becoming the preferred option amongst the larger and more complicated hedge funds and private equity firms.
Since Gravitas Technology’s inception in 1996, the company has worked with hundreds of financial services companies, securing some of the largest and most prominent hedge fund clients over the last year. The company firmly believes funds are better served by outsourcing their IT needs, and is regarded throughout the industry as a provider of high quality services. A testament to the future success of the new office expansion, Gravitas has already secured various large hedge fund clients in the Greenwich and Stamford area to be announced shortly.
Appointed to the Connecticut office, Sunil Wadhwa, Gravitas’ Client Services Director, and former Goldman Sachs technology executive, and Jessica Golle, recently joining the team from Reuters America. Prior to joining Gravitas, Mr. Wadhwa spent 15+ years at Goldman Sachs and was responsible for supporting all technology globally. Ms. Golle has a seasoned business history after excelling at Reuters America as a buyside account manager, and being honored as the “Top Client Manager in the Eastern Region” in 2002. Gravitas will continue to staff its new office with the same high caliber talent that its New York office currently employs.
Bruce McGuire, President of the Connecticut Hedge Fund Association states: “The CTHFA launched earlier this year, as Connecticut has now become home to some of the world's largest and most respected hedge fund and alternative investment management firms. The expansion of Gravitas Technology into our region along with other companies who service the alternative investment community will continue to help drive this growth and profitability forward.”