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Oddo AM appoints BNY Mellon as fund administrator and trustee for new merger arbitrage hedge fund

Wednesday, November 02, 2011
Opalesque Industry Update – BNY Mellon, the global leader in investment management and investment services, has been appointed by Oddo Asset Management (Oddo AM) to provide fund administration and custody services for its new hedge fund, Orsay Merger Arbitrage.

Oddo AM, the asset management branch of French financial services group Oddo & Cie, launched the merger arbitrage fund in June 2011 with €100 million seed capital, following its acquisition of Banque D’Orsay in October 2010.

Pierre Baudard, Chief Operating Officer of Oddo Asset Management said: “Orsay Merger Arbitrage is the flagship product of our new alternatives business and BNY Mellon’s combined expertise in fund administration and custody will be a huge benefit to Oddo as we expand our hedge fund presence.”

Marina Lewin, Global Head of Sales, at BNY Mellon Alternative Investment Services, said: “BNY Mellon looks forward to working with Oddo Asset Management and providing them with a superior level of service. We will work closely with them to support their requirements as the business grows."

(press release)

BNY Mellon Alternative Investment Services (AIS), a leading fund administrator of alternative assets including single manager hedge funds, funds of hedge funds and private equity, has over $450 billion of assets under administration and custody and an extensive global presence. In addition to administration and custody services, AIS offers cash management, foreign exchange, collateral management, corporate trust and wealth management to the alternative investment industry.

BNY Mellon is a global financial services company focused on helping clients manage and service their financial assets, operating in 36 countries and serving more than 100 markets. BNY Mellon is a leading provider of financial services for institutions, corporations and high-net-worth individuals, offering superior investment management and investment services through a worldwide client-focused team. It has $25.9 trillion in assets under custody and administration and $1.2 trillion in assets under management, services $11.9 trillion in outstanding debt and processes global payments averaging $1.6 trillion per day. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation.

Oddo Asset Management is the asset management affiliate of Groupe Oddo and operates two major business lines: Investment Banking and Asset Management. Oddo Asset Management has EUR 13bn in assets under management (at 31/12/2010), and 120 employees including 32 fund managers divided into competence clusters. The company seeks performance and innovation through specialist management for its Institutional and Independent Financial Advisor partners. Thanks to its conviction management, Oddo Asset Management has developed recognised expertise in: mid cap equities and theme-driven investments, convertible bonds, diversified management and multi management.

Oddo & Cie is an independent financial services group, founded over 160 years ago. With a staff of 1,000 (including 100 analysts and an IT headcount of 100) and €22bn in assets under management, Oddo & Cie is active in investment banking and capital management: brokerage on the equity and bond markets, financial analysis, private banking, asset management with associated front- and back-office activities. The Group stands out thanks to its ownership structure as 42% of its capital is held by the Oddo family and 30% by employees. This “partnership” ethos guarantees the long-term involvement of its teams. At end-2010, Oddo & Cie reported a net profit of € 81.5m and had shareholders' equity of €379m.


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