PRNewswire – The Bank of New York Mellon, a global leader in asset management and securities servicing, announced today that it has acquired the fund of hedge funds administrative services business of LAMP Technologies LLC, a Dallas-based alternative investment administrator.
Formed in 1997, LAMP Technologies specializes in servicing alternative investment vehicles such as funds of hedge funds. Terms of the agreement were not disclosed.
"This acquisition attests to our commitment to offer clients state-of-the-art technology, customized service solutions, and expanded reporting capabilities," said Art Certosimo, executive vice president at The Bank of New York Mellon. "We welcome LAMP’s fund of hedge funds servicing professionals to our organization, which will only further strengthen and broaden our team of experts.
"Through continual product innovation, as offered through the LAMP technology platform, we enable clients to better focus on their core competency of managing money while achieving additional alpha through operational excellence," Certosimo added.
