WEST PALM BEACH, FL (HEDGECO.NET) – Mellon Financial Corporation has announced that investor assets in one of its subsidiary fund, Mellon HBV European Event Driven Alternative Strategies LLC, havesurpassed the US $100 million mark. According to the press release, �The Mellon HBV European Event-Driven strategy invests in a diversified portfolio of European-focused opportunities includingarbitrage, special situations and distressed situations.�
Commenting on the growth of the fund, Daniel P. Harley, managing director and portfolio manager at Mellon HBV Alternative Strategies UK, said, �We are seeing attractive opportunities throughout all three sectors of this strategy. We believe the current event-driven investment climate will continue as we witness a major expansion of the European Union and continued restructuring of major industries,� Harley explained.
In his statement, Patrick Sheppard, chief operating officer of Mellon Institutional Asset Management said, �This growth marks a milestone for our alternative strategies unit in the European marketplace, with returns from traditional investments expected to be relatively modest in the current environment; we are seeing increasing demand for investment strategies that focus on absolute returns.�
Mellon HBV Alternative Strategies Ltd is a wholly owned subsidiary of Mellon HBV Alternative Strategies LLC; a U.K. based alternative investment asset manager, overseeing approximately US $300 million of investor assets, across event-driven, global arbitrage and multi-strategy instruments. The United Kingdom�s Financial Services Authority [FSA] is regulating the company.
Paul Oranika
Editor-in-Chief
HedgeCo.Net
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