BNY Mellon has been named the largest fund of hedge funds administrator in HFMWeek’s bi-annual administrator survey.
BNY saw its FoHF assets under administration increase $20 billion to $130.6 billion in the six months ending October 2012, according to a statement released Tuesday.
Marina Lewin, the global head of sales for BNY’s alternative investment unit, said that the growth can be attributed to “outsourcing as funds of hedge funds continue to strengthen their operational infrastructure.”
Lewin also added that the firm’s “ability to be a full service provider to FoHFs – which have expanded their products, services and distribution channels – has proven an effective differentiator.”
With operations in 36 countries, BNY Mellon has $26.7 trillion in assets under custody and administration and $1.4 trillion in assets under management.