Altaira Expands Platform with Alpha+ and Krell+ to Deliver Measurable “Operational Alpha” and Help Fund Managers Reduce Fixed Costs
Altaira Strategic Partners, LLC, a New York-based provider of institutional-grade back- and middle-office solutions for investment funds, has announced the launch of two new service offerings — Alpha+ and Krell+ — designed to transform how fund managers manage treasury operations and technology infrastructure. The launch marks a strategic expansion of Altaira’s existing platform, aimed at helping fund managers unlock new layers of efficiency and performance while avoiding the high fixed costs of personnel and proprietary systems.
As the global investment landscape continues to evolve, fund managers face growing challenges in managing complex operational requirements, particularly in areas like treasury management, tax optimization, and technology infrastructure. The increasing emphasis on scalability, transparency, and cost efficiency has pushed many asset managers to seek outsourced partners capable of delivering institutional-level capabilities without the overhead of in-house teams. Altaira’s new offerings are positioned squarely at this intersection.
Redefining “Operational Alpha” in Modern Fund Management
Michael Fastert, Founding Partner and CEO of Altaira, believes the next frontier in fund performance lies not only in investment returns but in what he calls “discrete operational alpha” — a measurable performance enhancement generated by optimizing internal operations.
“Discrete operational alpha will be a key component of the next generation of fund performance,” said Fastert. “As our industry continues to evolve, adding passive alpha to investment performance can create true organizational performance. We see Alpha+ and Krell+ as two discrete, measurable ways managers can unlock untapped alpha through smarter treasury management and optimized technology deployment.”
The concept of operational alpha — often overshadowed by front-office trading performance — is gaining attention as investors, allocators, and consultants increasingly evaluate managers not only on returns but also on their ability to run efficient, scalable organizations. Operational inefficiencies, even if minor, can eat into returns and reduce overall competitiveness. Altaira’s approach seeks to turn these inefficiencies into measurable gains.
Alpha+: Transforming Treasury into a Source of Passive Alpha
The first of the two new offerings, Alpha+, is built to help funds turn what has traditionally been a cost center — treasury management — into a strategic driver of performance. Treasury operations, including cash management, collateral optimization, and securities lending, have become more complex as funds expand globally and manage relationships with multiple prime brokers, custodians, and counterparties.
Fastert explained that smaller and mid-sized fund managers, in particular, often lack the bandwidth, expertise, and systems to manage these activities with institutional precision. “Fund treasury and technology infrastructure management are specialized functions that smaller and mid-sized managers lack the time and resources to properly address, potentially leaving easy money on the table,” he said. “Both verticals can significantly augment a firm’s operational environment, especially as investors increasingly scrutinize operational efficiency and costs.”
Centralized Treasury Management for Modern Funds
Alpha+ introduces a centralized treasury management and securities lending program that enables funds to streamline operations, maximize capital efficiency, and enhance counterparty relationships. By improving visibility and control across their treasury functions, fund managers can generate what Altaira calls “passive alpha” — incremental gains derived not from market exposure but from operational precision.
The Alpha+ platform includes several integrated capabilities:
- Collateral and margin optimization: Helping funds ensure that capital posted as collateral is deployed efficiently, freeing up excess cash and reducing unnecessary funding costs.
- Short borrow optimization: Enhancing the management of short positions by improving borrow cost efficiency and optimizing lender relationships.
- Active cash management: Improving yield on idle cash through strategic deployment into short-term instruments or sweep programs.
- Wallet share optimization across multiple prime brokers: Allowing funds to analyze and negotiate better pricing and execution terms across counterparties.
By leveraging these capabilities, Alpha+ helps funds achieve incremental improvements that can cumulatively add up to meaningful annual gains. “If you’re a mid-size fund, inefficient treasury management places you at a disadvantage compared to larger funds who have this capability and might add 30 to 50 basis points a year,” said Fastert. “Alpha+ helps level that playing field.”
Enhancing After-Tax Returns through Optimization
Another key component of Alpha+ is tax optimization. Altaira integrates tax-sensitive strategies directly into its operational framework, helping funds harvest losses, manage wash sales, and time trades more effectively to minimize taxable events. This service enables fund managers to present investors with a more favorable “book-to-tax” picture — a crucial differentiator as funds attract a growing share of institutional and tax-sensitive capital.
“Alpha+ is a discrete way to provide a more efficiently managed tax-to-book picture for your investors,” Fastert said. “As hedge funds continue to add institutional investors with various tax sensitivities, Alpha+ helps managers actively optimize their portfolios from a tax perspective so that returns are not swallowed by a less favorable tax profile.”
Altaira’s approach is highly collaborative. The firm works directly with clients’ CFOs, controllers, and trading teams to align treasury and tax management strategies with overall portfolio goals. This cross-functional alignment ensures that Alpha+ is not merely an outsourced service, but a partner-level solution that contributes directly to performance and transparency.
Krell+: Turning Technology from a Cost Center into a Growth Engine
Alongside Alpha+, Altaira is also launching Krell+, a comprehensive technology advisory and management offering that reimagines how funds approach their IT infrastructure and data strategy. The name “Krell+” reflects the solution’s mission to empower funds to achieve operational excellence through advanced technology — without incurring the high fixed costs of full-time CTO or CIO hires.
Krell+ merges vCTO (virtual Chief Technology Officer) and vCIO (virtual Chief Information Officer) services into a modular platform that allows funds to scale their technology capabilities dynamically. By providing both strategic oversight and hands-on technical execution, Krell+ helps managers avoid the pitfalls of fragmented systems, inefficient data flows, and costly infrastructure bloat.
A Smarter Approach to Technology Oversight
“Not having dedicated in-house technology personnel can result in disparate, stand-alone systems whose potential is not maximized,” said Fastert. “It can lead to failed implementations before fund managers can even think about anything forward-facing around next-gen technology or agentic AI.”
Altaira’s vCTO and vCIO services are designed to fill that gap. The firm’s team of experienced technology professionals works directly with a fund’s managed service provider (MSP) to oversee systems, optimize workflows, and ensure that all infrastructure investments contribute to long-term scalability.
“Our experienced technology team works side-by-side with your MSP to optimize your infrastructure and foster a value-add technology environment,” Fastert added. “Krell+ gives managers the oversight and integration they need at a fraction of the cost of hiring in-house.”
Data Management and the AI-Driven Future
As data becomes increasingly central to investment research, reporting, and risk management, Krell+ also focuses heavily on data architecture and integration. Altaira’s experts help clients establish a “golden source” of data — a single, reliable foundation that supports everything from performance analytics to investor reporting.
With more than 60 years of combined experience designing and managing technology environments for leading hedge funds, the Altaira team provides modular solutions tailored to each client’s specific needs, including:
- Data warehouse management: Building and maintaining scalable data repositories for portfolio and operational data.
- External data integration: Incorporating third-party market, transaction, or research data into internal systems.
- Technology system integration: Connecting front-, middle-, and back-office platforms to eliminate silos and manual processes.
- AI integration: Helping funds leverage generative and agentic AI tools to improve efficiency, automate tasks, and enhance research capabilities.
“The most effective environment combines personnel with cutting-edge technology that does not just accomplish tasks or replace costs, but creates value through an improved operational model,” Fastert said.
As generative AI and automation continue to redefine how financial institutions operate, Altaira’s approach ensures that clients remain agile and future-ready — capable of integrating new technologies without disruption.
Transparent and Scalable Pricing for Every Fund Size
Altaira’s pricing structure for Alpha+ and Krell+ has been designed with scalability and fairness in mind, ensuring that funds of all sizes can access institutional-grade capabilities.
- Alpha+: Offered as a fixed basis-point charge to the fund, aligning costs with assets under management.
- Krell+ vCTO: Delivered as an hourly bundle — typically 10 to 15 hours per month — scalable based on client requirements.
- Krell+ vCIO: Available as a project-based or flat-fee bundled service, covering data management and reporting initiatives.
This transparent, flexible pricing model reflects Altaira’s goal of democratizing access to operational excellence — historically a luxury only the largest hedge funds and private investment firms could afford.
Building Institutional-Quality Organizations for a Digital-First Era
Alpha+ and Krell+ are more than just new services — they represent Altaira’s broader vision of what the future of fund operations should look like: digitally enabled, data-driven, and operationally efficient. As the line between investment performance and operational performance continues to blur, fund managers must rethink their operating models to remain competitive and credible in the eyes of investors.
“Fund managers who can demonstrate to investors that they are addressing every layer of operational alpha — from treasury management to tax optimization — will be on a strong footing going forward,” Fastert said. “Our aim is to be their partner on that institutional journey.”
Altaira’s latest expansion comes at a time when the asset management industry is under growing pressure to deliver more value at lower cost. Institutional investors are increasingly demanding greater transparency, robust risk controls, and measurable operational efficiency. By launching Alpha+ and Krell+, Altaira is positioning itself as a key enabler of that transformation — helping firms unlock the full potential of their operational ecosystems.
About Altaira Strategic Partners
Founded in 2024, New York-headquartered Altaira Strategic Partners LLC is an independent spin out from its parent group, AlTi Global, a leading independent global wealth manager with over $77 billion of assets under advisory and management. Altaira’s mission is to partner with both emerging and established asset managers to provide a state-of-the-art institutional operating environment. Altaira’s origins trace back to Tiedemann Investment Group, which has been providing institutional back and middle office services to fund managers since 1980. It joined forces with Tiedemann Advisors, Alvarium Investments Limited and Cartesian Growth Corporation in November 2022 under the trading name Alvarium Tiedemann Holdings, Inc. (or “AlTi”). For more information visit: https://www.altairastrat.com
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