BNY Mellon Buys $2.8B Hedge Fund

Jan 22 2008 | 12:19pm ET

It’s official: Bank of New York Mellon has completed the acquisition of ARX Capital Management, a Rio de Janeiro, Brazil-based hedge fund that has more than US$2.8 billion in assets under management.

Terms of the transaction, which was first announced in November, were not disclosed. ARX Capital will be integrated with BNY Mellon Asset Management Brazil and José Alberto Tovar, CEO of ARX Capital, will become the head of the integrated asset management business, reporting to Zeca Oliveira, head of BNY Mellon Brazil.

“The acquisition of ARX Capital Management significantly enhances our capabilities in the region and will add a strong product offering to help drive the development of our business internationally,” Jonathan Little, vice-chairman of BNY Mellon Asset Management, said. “Moreover, it fits with our strategic objective of growing our footprint in developing markets. The business is continuing to exceed our expectations with close to 100% client retention during the period since we announced the acquisition.”

Founded in 2001, ARX Capital Management 20 equity and hedge funds, in domestic and offshore versions with BNY Mellon DTVM Brazil serving as the administrator for the majority of the funds.


In Depth

Exotic Assets: Investing In Rare Violins

Jan 17 2017 | 4:43pm ET

By definition, alternative investments include exotic assets far beyond your typical...

Lifestyle

'Tis the Season: Wall Street Holiday Parties Back In Fashion

Dec 22 2016 | 9:23pm ET

Spending on Wall Street holiday parties has largely returned to pre-2008 levels...

Guest Contributor

The Trump Administration: What It Could Mean for Carried Interest

Jan 19 2017 | 5:25pm ET

The arrival of the Trump administration brings the potential for a repeal of the...

 

From the current issue of

As initial anxiety over Donald Trump’s victory gave way to market euphoria in the days following the election, there was a casualty. Gold prices.