Mellon HBV Alternative Strategies LLC has listed offshore versions of its hedged distressed and European event-driven strategies on the Irish Stock Exchange.
Jonathan S. Bean, Mellon HBV Managing Director, said: "These new public offerings open our event driven expertise to a wider audience in Europe. With this expanded market, our complement of investment strategies, and our strong presence in London, Mellon HBV is well positioned to participate in the overall growth of hedge fund investing in Europe."
The Mellon HBV Offshore Rediscovered Fund II Ltd (hedged distressed) and the Mellon HBV Offshore European Event Driven Fund Ltd. mark the company's first listings on the Irish Stock Exchange. Both funds are open-end, denominated in U.S. dollars, and domiciled in the Cayman Islands. These publicly listed funds are available only to non-US investors.
The Mellon HBV Offshore European Event Driven Fund invests in event driven opportunities throughout Europe, and the Mellon HBV Offshore Rediscovered Fund II invests in a diversified portfolio of distressed investments in the United States. Mellon HBV Alternative Strategies LLC is the investment manager for both funds.
Patrick J. Sheppard, Chief Operating Officer and Head of Alternative Products for Mellon Institutional Asset Management (MIAM), said: "MIAM is becoming a leader in offering alternative strategies around the globe. We view these alternative strategies as a key tool for creating absolute returns for our clients."
Background Note: Headquartered in New York with offices in London, Mellon HBV Alternative Strategies LLC has combined assets under management in excess of USD 850 million in four primary event-driven investment disciplines: Arbitrage (US Risk Arbitrage and Global Risk Arbitrage), Distressed (Hedged Distressed, Long-Only Distressed); Special Situations/Event Driven (U.S. Special Situations, European Event Driven), and Multi-Strategy Investing, which are only offered to certain financially sophisticated investors pursuant to a confidential private offering memorandum.
Mellon HBV is a subsidiary of Mellon Financial Corporation, a global financial services company. Headquartered in Pittsburgh, Mellon is one of the world's leading providers of financial services for institutions, corporations and affluent individuals, providing institutional asset management, mutual funds, private wealth management, asset servicing, human resources services and treasury services. Mellon has approximately USD 3.1 trillion in assets under management, administration or custody, including USD 612 billion under management. Its asset management companies include The Dreyfus Corporation and UK-based Newton Investment Management Limited.