WEST PALM BEACH, FL (HEDGECO.NET) – Mellon Financial Corporation has announced that investor assets in one of its subsidiary fund, Mellon HBV European Event Driven Alternative Strategies LLC, havesurpassed the US $100 million mark. According to the press release, \u00c3\u00af\u00c2\u00bf\u00c2\u00bdThe Mellon HBV European Event-Driven strategy invests in a diversified portfolio of European-focused opportunities includingarbitrage, special situations and distressed situations.\u00c3\u00af\u00c2\u00bf\u00c2\u00bd<\/p>\n
Commenting on the growth of the fund, Daniel P. Harley, managing director and portfolio manager at Mellon HBV Alternative Strategies UK, said, \u00c3\u00af\u00c2\u00bf\u00c2\u00bdWe are seeing attractive opportunities throughout all three sectors of this strategy. We believe the current event-driven investment climate will continue as we witness a major expansion of the European Union and continued restructuring of major industries,\u00c3\u00af\u00c2\u00bf\u00c2\u00bd Harley explained.<\/p>\n
In his statement, Patrick Sheppard, chief operating officer of Mellon Institutional Asset Management said, \u00c3\u00af\u00c2\u00bf\u00c2\u00bdThis growth marks a milestone for our alternative strategies unit in the European marketplace, with returns from traditional investments expected to be relatively modest in the current environment; we are seeing increasing demand for investment strategies that focus on absolute returns.\u00c3\u00af\u00c2\u00bf\u00c2\u00bd<\/p>\n
Mellon HBV Alternative Strategies Ltd is a wholly owned subsidiary of Mellon HBV Alternative Strategies LLC; a U.K. based alternative investment asset manager, overseeing approximately US $300 million of investor assets, across event-driven, global arbitrage and multi-strategy instruments. The United Kingdom\u00c3\u00af\u00c2\u00bf\u00c2\u00bds Financial Services Authority [FSA] is regulating the company.<\/p>\n
Paul Oranika
Editor-in-Chief
HedgeCo.Net
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