Monday, 27 April 2015
Last updated 6 hours ago
Apr 1 2008 | 10:43am ET
The Bank of New York Mellon’s Alternative Investment Services business has topped $200 billion in assets under administration. The firm says the milestone in its hedge fund administration business reflects the rapid global growth in the firm's servicing of funds of hedge funds and multi-strategy hedge funds.
In the last five years, The Bank of New York Mellon has grown hedge fund assets under administration from $30 billion to $200 billion and last year posted a 94% increase in assets under administration.
"We estimate more than half of all money flowing into hedge funds through 2010 will come from institutional investors, at which point global institutional assets in hedge funds will exceed $1 trillion,” said Brian Ruane, executive vice president of The Bank of New York Mellon. “Retirement plans will account for about two-thirds of these asset flows."
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…