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22 Jan 2008

Brazilian Hedge Fund Manager AFX Acquired by $20 Trillion NY Mellon Corporation

Hedge fund manager ARX Capital Management has been acquired by The Bank of New York Mellon Corporation.

The Brazilian hedge fund manager is headquartered in Rio de Janeiro, Brazil, and specialises in multi-strategy, long/short and long only investment strategies and has more than $2.8 billion in assets under management.

Founded in 2001, the company manages 20 equity and hedge funds, in domestic and offshore versions. ARX will be integrated with BNY Mellon Asset Management Brasil with the combined business becoming one of the leading asset managers in Brasil.

Jose Alberto Tovar, CEO of ARX Capital Management, will become the head of the integrated asset management business in Brazil. "We are already seeing new business as a result of the acquisition which is testament to our teams working successfully during integration." Tovar said.

The Bank of New York Mellon Corporation is a global financial services company focused on helping clients manage and service their financial assets, operating in 34 countries and serving more than 100 markets. It has more than $20 trillion in assets under custody and administration, more than $1.1 trillion in assets under management and services $11 trillion in outstanding debt.

Alex Akesson
Editor for HedgeCo.Net

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