BNY Mellon’s alternative investment services business has been selected by Tribridge Investment Partners as fund administrator for its new hedge fund, Tribridge Asian Special Situations Fund, which launched in September.
The Tribridge Asian Special Situations Fund will invest in stressed and distressed credits across Asia Pacific, including Australia, New Zealand and Japan.
Fundamental credit research will be used to identify mis-priced/undervalued securities due to either financial stress or the probability of a corporate event. There will be no investments in private equity or direct lending.
This fund will join Tribridge’s stable of four other funds bringing total firm assets to USD312m.
"Now, more than ever, it is important that hedge funds have the strongest reporting platforms in place which provide transparency and accuracy," says Steven Sun, head of marketing and business development, Tribridge Investment Partners. "We take our reporting commitments very seriously therefore the selection of a strong third party administrator was a critical decision. We chose BNY Mellon because of their strong technology investment programme and proven record in respect of service standards, client focus and relationship management both in Asia and worldwide."
"We believe Tribridge is an exciting company to be partnering with and working with them on the launch of the Tribridge Asian Special Situations Fund has been a great opportunity for us," says Andrew Gordon, executive vice president, head of alternative investment services for Asia at BNY Mellon. "We are pleased to be able to continue to ensure the operational success of hedge funds originating in Hong Kong. Our appointment confirms that the solutions we are providing to the Asia Pacific hedge fund industry remain at the forefront of the market."
