- Integrates with and complements the company's Global Risk Solutions capabilities
- Meets demand for more transparency and control from institutions investing in hedge funds
BNY Mellon, a global leader in investment management and investment services, has completed its previously announced acquisition of HedgeMark International, LLC, a provider of hedge fund managed account and risk analytic services. Financial terms of the transaction were not disclosed.
HedgeMark will become part of BNY Mellon's Asset Servicing business, aligning with a number of groups, including its Global Risk Solutions and Alternative Investment Services units.
"HedgeMark's capabilities align closely with many of our global investment services solutions and will help us deliver improved governance, risk reporting, and transparency to institutions with significant hedge fund investments. We are thrilled to welcome HedgeMark CEO Andrew Lapkin and his team to the BNY Mellon organization," said Samir Pandiri, BNY Mellon executive vice president and CEO of Asset Servicing.
"We look forward to becoming an even more integral part of BNY Mellon's investment services business as we work to develop and bring to market new solutions for the alternatives industry," said Lapkin.
The agreement to acquire BNY Mellon's remaining 65% interest of HedgeMark was announced in February. BNY Mellon had held a 35% ownership stake in the firm since 2011.
BNY Mellon's Asset Servicing business supports institutional investors in today's fast-evolving markets, safeguarding assets and enhancing the management and administration of client investments through services that process, monitor and measure data from around the world. We leverage our global footprint and local expertise to deliver insight and solutions across every stage of the investment lifecycle.