Saemor Capital and Pelargos Capital appoint BNY Mellon
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Saemor Capital and Pelargos Capital appoint BNY Mellon 29 June 2015London Reporter: Stephen Durham
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BNY Mellon has been appointed by alternative fund managers Saemor Capital and Pelargos Capital to provide Alternative Investment Fund Managers Directive depositary, fund administration, and middle office and investor services for assets valued at €800 million.
The bank will support three existing Dutch funds in addition to the future launch of new investment products, such as Cayman or UCITS funds, on behalf of the two managers, which share an operational platform.
Patrick van de Laar, COO for both firms, said: “BNY Mellon came out first in our due diligence process in which we looked for a global service provider that could support the needs of our long short products which are invested in a variety of markets and which use a range of prime brokers.”
“Based on our strong investment results, we expect substantial growth of our operations, and are looking forward to make that happen in cooperation with BNY Mellon as our service provider.”
Leonique van Houwelingen, country executive for the Netherlands at BNY Mellon, added: “We have worked closely with Saemor Capital and Pelargos Capital on the development of a robust operating model that encompasses transfer and registrar services, middle office outsourcing, fund accounting and Dutch depositary services.”
“Our local market expertise combined with our ability to draw upon our various operational centres of excellence around Europe offer very real benefits when it comes to supporting our clients both in the Netherlands and more widely across the region.”
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