Tue, 06/05/2014 - 06:00
BNY Mellon has completed its acquisition of HedgeMark International, a provider of hedge fund managed account and risk analytic services.
Financial terms of the transaction have not been disclosed.
HedgeMark will become part of BNY Mellon’s asset servicing business, aligning with a number of groups, including its global risk solutions and alternative investment services units.
“HedgeMark’s capabilities align closely with many of our global investment services solutions and will help us deliver improved governance, risk reporting, and transparency to institutions with significant hedge fund investments. We are thrilled to welcome HedgeMark CEO Andrew Lapkin and his team to the BNY Mellon organisation,” says Samir Pandiri, BNY Mellon executive vice president and CEO of asset servicing. "We look forward to becoming an even more integral part of BNY Mellon's investment services business as we work to develop and bring to market new solutions for the alternatives industry.”
The agreement to acquire BNY Mellon’s remaining 65 per cent interest of HedgeMark was announced in February. BNY Mellon had held a 35 per cent ownership stake in the firm since 2011.
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