State Street most definitely offers
hedge fund services. Name me an American or British commercial banking company with a global footprint which
doesn't.
That being said, State Street is not a major hedge fund player, and is well-known for mutual funds and other index vehicles. Boston is all about mutual fund management. Think Fidelity, Putnam, Wellington, Mass Mutual, etc.
The North One, you might be conflating State Street's previous management of BlackRock's U.S. exchange-traded funds, which included hedge funds. This stopped in 2021.