21 January 2018
visit www.ebaday.com

Bank of New York Mellon introduces enhanced private equity servicing platform

10 November 2008  |  1505 views  |  0 Source: Bank of New York Mellon

The Bank of New York Mellon (NYSE: BK), a global leader in alternative and hedge fund administration, announced that its Alternative Investment Services (AIS) business is introducing an enhanced private equity servicing platform, combining new technology and outsourcing services to support the specific administrative needs of private equity investment companies.

The newly integrated services support a broad range of private equity investments, including buyouts, venture capital, mezzanine financing, real estate, and hybrid hedge fund deals. An advanced technology platform will deliver reporting capabilities through a secure web-based portal, from fund setup to capital calls/distributions and portfolio monitoring, including account balances and performance.

Global private equity assets are projected to grow from approximately $2 trillion today to $5 trillion by 2015(*). Studies also suggest only 10-15% of US private equity firms currently outsource their fund administration activities. Private equity fund administration is a dedicated service offering within The Bank of New York Mellon and its affiliates, delivered by a team of professionals based in Ireland, the United Kingdom, United States and Hong Kong.

"Recent market events and increased reporting requirements from institutional investors are compelling private equity firms to reassess their back office operations from a cost effectiveness standpoint," said Brian Ruane, executive vice president and head of financial institutions client management at The Bank of New York Mellon. "By expanding our suite of private equity fund services - from accounting and administration to custody and cash management - and adding industry-leading information delivery, we can provide a total package that enables PE fund managers to maintain their investment focus while we support fund operations."

In May, The Bank of New York Mellon announced it had acquired the fund of hedge funds administrative services business of LAMP Technologies LLC, a Dallas-based alternative investment administrator, strengthening its existing offerings for that growing market segment.

"We continue to invest in technology in the areas where our clients are seeing growth and coming to us for solutions," said Rick Stanley, head of product management for The Bank of New York Mellon's Alternative Investment Services. "With this, our second major product initiative this year, we listened to our private equity clients, who told us they're increasingly more likely to outsource fund administration. We're ideally positioned to meet this need by integrating our company-wide expertise."

Comments: (0)

Comment on this story (membership required)

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.niceactimize.comvisit www.thomsonreuters.infovisit www.fivedegrees.nl

Top topics

Most viewed Most shared
Europe begins Open Banking era in subdued styleEurope begins Open Banking era in subdued...
12671 views comments | 33 tweets | 38 linkedin
BofA leads on blockchain patentsBofA leads on blockchain patents
8045 views comments | 12 tweets | 12 linkedin
Standard Chartered establishes fintech innovation and investment unitStandard Chartered establishes fintech inn...
7903 views comments | 14 tweets | 14 linkedin
hands typing furiouslyFintech Adoption is About People, Not Tech
6989 views 1 | 6 tweets | 2 linkedin

Featured job

Competitive
London, UK (or flexible)

Find your next job