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31 Mar 2010

BNY Mellon Named Asia's Best Hedge Fund Administrator

HedgeCo News - BNY Mellon was named Best Fund Administrator - Hedge Funds and Best in Corporate Trust for the at The Asset magazine's Triple A Transaction Banking Awards 2010.

Scooping six accolades including the title of Best Global Custodian in Asia for the third consecutive year, BNY Mellon's Corporate Trust division also walked away with the trophies for Australia, Korea and India.

"Hedge funds are increasingly turning to BNY Mellon not only because of our global strengths, but also because of our sophisticated local capabilities in the region." Andrew Gordon, Head of Alternative Investment Services for Asia at BNY Mellon, said, "They believe it is vital to choose a partner which has a long term commitment to Asia. This award underlines the strengths of our offering and shows that our focus on quality and service excellence over the last three years has paid off handsomely."

BNY Mellon has $22.3 trillion in assets under custody and administration, $1.1 trillion in assets under management, services $12 trillion in outstanding debt and processes global payments averaging $1.6 trillion per day. Expands Hedge Fund & ETF Operations With The Acquisition Of Weston Capital Management

HedgeCo News - New York hedge fund manager,, Inc., has acquired a $1 billion hedge fund distributor based in West Palm Beach Fl., Weston Capital Management, LLC.

“With Weston Capital’s proven capability to seed new fund products, combined with its seasoned global institutional sales force, is now positioned to capture revenue streams from an array of hedge fund and actively managed ETFs.” Gregory Webster, CEO at, said.

Founded in 1993, Weston originates and markets fund of funds, single-manager hedge funds and raises capital to seed new hedge funds. In 2010, Weston Capital formed a strategic alliance for investment manager identification and fund seeding with Harcourt AG, a $4.5 billion alternative investments manager that is majority owned by Vontobel Group, the $70 billion Swiss banking group, is a leading global advisor of alternative investments for institutional investors.

Under the Harcourt strategic alliance, Weston Capital and Harcourt will seed and develop new hedge fund businesses via Weston Capital’s incubation platform. The alliance combines Weston’s extensive experience in early stage hedge fund investing and marketing with Harcourt’s proven investment expertise in global manager selection, due diligence and risk management.

Weston Capital founder Albert Hallac continues as CEO of Weston Capital, directing its day-to-day operations and business strategy. In addition, Chairman Joseph J. Bianco will become Chairman of Weston Capital. Weston Capital also has offices in London and New York City.

Since January 2004, Weston Capital’s hedge fund seeding platform (via the Weston-Atlas Partners Fund and the Weston Capital Partners Fund II) has provided sponsor capital for 13 emerging hedge fund managers. Weston intends to raise $250 million for its third incubation fund, Partners III, which will seed both hedge funds and actively managed ETFs, with Harcourt providing investment infrastructure and risk management.