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GLG MMI appoints BNY Mellon for fund administration

GLG MMI appoints BNY Mellon for fund administration


BNY Mellon has been appointed by GLG MMI, the fund of hedge fund division at GLG Partners, as custodian and fund administrator for its entire fund of hedge fund business.

The company previously shared the business with another provider.
 
BNY Mellon’s approach to fund of hedge funds and the integration of its technology allows hedge fund managers to focus on their core competency of managing money.
 
BNY Mellon sees fund of hedge funds as a dedicated line of business with it own specific operational requirements and not simply a subset of hedge funds. Its fund of hedge fund product delivers a fully integrated administration and custody offering. 
 
Paul Harvey founder and chief executive of GLG MMI, says: “BNY Mellon’s dedicated solution in the fund of hedge fund field and it’s commitment to the industry, through continued investment in best of breed technology, gives us and our investors the comfort that we have chosen a service provider with a keen eye to our ongoing needs, which is critical to our future growth ambitions.”
 
Brian Ruane (pictured), chief executive officer of alternative investment services at BNY Mellon, adds: “This is another important win for the company and further evidence of how the combination of people and specialised fund of hedge fund technology, coupled with our AAA rated financial strength, continues to allow us to grow our business franchise to over USD200bn in 2009. We welcome GLG MMI to our list of top flight fund of hedge funds managers and look forward to a long and fruitful relationship.”

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