Hedge Fund News From HedgeCo.Net


Hedge Fund Strategy: BNY Mellon Acquires HedgeMark

people movesNew York (HedgeCo.Net) - BNY Mellon has signed an agreement to acquire the remaining 65% interest of current affiliate and hedge fund risk analytic services, HedgeMark International, LLC.,  Zacks Equity Research reports. BNY Mellon has held a 35% ownership stake in HedgeMark since 2011.

“As institutional clients continue their shift into alternatives, especially hedge funds, this acquisition will enable us to better meet demands for improved governance, risk reporting, and transparency,” said Samir Pandiri, BNY Mellon executive vice president and CEO of Asset Servicing. “We’ll be able to integrate HedgeMark’s capabilities with our Global Risk Solutions offerings to set a new industry benchmark on risk and transparency. It marks the next step in our strategy to provide sharper insight into hedge fund investments and enterprise risk across a client’s entire portfolio.”

BNY Mellon’s stock price movement following the news release depicted a positive market response. The shares closed at $31.80 on Feb 24, up 1.4% from the previous day.

Ken Phillips, HedgeMark’s founder and CEO, has announced his intention to retire when the transaction is completed. HedgeMark’s board of directors will appoint Andrew Lapkin, current president, as its new CEO. Lapkin will help supervise the transition and report to Pandiri after the closing.

Alex Akesson
Editor for HedgeCo.net
alex@hedgeco.net
HedgeCo.Net is a premier hedge fund database and community for qualified and accredited investors only. Membership in HedgeCo.net is FREE and EASY. We also offer FREE LISTINGS for Hedge Funds!

Related Posts Plugin for WordPress, Blogger...
This entry was posted in Hedge Fund Strategies, HedgeCo News. Bookmark the permalink.

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>