BNY Mellon has been appointed by Oddo Asset Management (Oddo AM) to provide fund administration and custody services for its new hedge fund, Orsay Merger Arbitrage.
Oddo AM, the asset management branch of French financial services group Oddo & Cie, launched the merger arbitrage fund in June 2011 with EUR100 million seed capital, following its acquisition of Banque D’Orsay in October 2010.
Pierre Baudard (pictured), Chief Operating Officer of Oddo Asset Management, says: “Orsay Merger Arbitrage is the flagship product of our new alternatives business and BNY Mellon’s combined expertise in fund administration and custody will be a huge benefit to Oddo as we expand our hedge fund presence.”
Marina Lewin, Global Head of Sales, at BNY Mellon Alternative Investment Services, says: “BNY Mellon looks forward to working with Oddo Asset Management and providing them with a superior level of service. We will work closely with them to support their requirements as the business grows."