BNP Paribas acquires new US mandate 25 October 2012New York Reporter: Jenna Jones
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Edgewood L Select has chosen BNP Paribas to provide global custody, transfer agency and corporate domiciliation.
Edgewood—a Luxembourg domiciled UCITS fund—already has $730 million in custody at BNP Paribas as of 30 September 2012.
Following the mergence of Edgewood Management funds into Edgewood L select, the total assets held at BNP Paribas will be $915 million, subject to shareholder approval.
Alexander Farman-Farmaian, chairman of Edgewood said: “We aim to deliver sustainable long-term performance by investing in high-quality growth companies, primarily based in the US.”
“As one of the largest administrators of UCITS funds with a heritage in strong client service, BNP Paribas was the stand-out contender.”
Claudine Gallagher, regional manager, North America, BNP Paribas, said: “We’re obviously delighted to have won this mandate from Edgewood. This development builds on a well established relationship that we have developed with them and it is a great example of the value that we can offer.”
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