BNY Mellon's Pershing Invests in HedgeMark

Feb 1 2011 | 11:53am ET

Pershing, a BNY Mellon company, has made a non-controlling investment in HedgeMark, obtaining rights to acquire the hedge fund managed accounts platform over time.The value of the investment was not disclosed.

“HedgeMark is re-defining the role of hedge funds in the managed accounts industry for both institutional and qualified investors and asset managers,” said Richard F. Brueckner, chairman of Pershing. “HedgeMark has built an investment solution that speaks to the fiduciary demands of our most sophisticated institutional clients…These capabilities complement Pershing’s core managed account strategy, recently enhanced with the acquisition of PNC Managed Investments, which focuses on providing managed account solutions for broker-dealers and investment advisors to enable them to service their retail and high-net-worth clients.”

HedgeMark’s platform features a fully integrated suite of technology modules that include fund due diligence, portfolio construction and back-testing, holdings-based risk monitoring, stress test analytics and a comprehensive compliance surveillance engine. The platform allows investors to build, analyze and monitor a diversified portfolio of alternative investments while integrating and aggregating alternative and traditional investment risk data.

HedgeMark, founded in 2009, has offices in Los Angeles and New York.

Pershing provides financial business solutions to over 1,500 institutional and retail financial organizations and independent investment advisors collectively representing about five million active investors. Pershing has 21 offices worldwide.

BNY Mellon is a leading provider of financial services for institutions, corporations and high-net-worth individuals, providing asset management and wealth management, asset servicing, issuer services, clearing services and treasury services through a worldwide client-focused team. It has $1.17 trillion in assets under management.

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