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Opalesque Exclusive: The Bank of New York Mellon acquires LAMP Technologies and tech platform aimed at increasing share in fund of hedge funds market Kirsten Bischoff, Opalesque New York: The Bank of New York Mellon, which runs a $200bln hedge fund administration service, announced today the acquisition of LAMP Technologies LLC, a small, Dallas based administrator. Looking to grow its share of the marketplace in the fund of hedge funds administration arena, The Bank of New York Mellon will integrate the LAMP technology platform which includes an online dashboard delivery service. LAMP Technologies, which built this proprietary technology, will be integrated with The Bank of New York Mellon adding additional service professionals to The Bank of New York Mellon Team.

Rick Stanley, Head of Product Management for the Alternatives Investment Services Space at The Bank of New York spoke with Opalesque about the new reporting capabilities that this acquisition will bring to The Bank of New York Mellon’s administration services. “We are very attracted to this space in terms of growth opportunity because those underlying investors [in funds of hedge funds] are becoming more institutional. Our estimates are, that by the year 2010 we are looking at $600-$700 bln coming into the hedge fund markets. We believe that a significant amount of that money will be directed at funds of hedge funds for various reasons, and instituti......................

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