The Bank of New York says it has been selected as hedge fund administrator by the Kallista Credit Arbitrage Fund, a Cayman Islands-domiciled fund listed on the Irish stock exchange.
The fund is advised by French hedge fund manager, ADi Alternative Investments, and will be administered by AIB/BNY Fund Management (Ireland) Limited – the joint venture of Allied Irish Banks plc and The Bank of New York in Dublin.
“To be selected by a fund such as Kallista Credit Arbitrage is a key win for The Bank of New York,” says David Aldrich, head of securities industry banking in Europe for The Bank of New York. “It illustrates our commitment to the alternatives industry and underlines the quality of systems and staff required to provide first class client service to a wide variety of investment strategies, wherever they are domiciled. We are looking forward to our new relationship with ADi.”
Globally, The Bank of New York Alternative Investment Services group services over 200 funds with US$ 51.4 Billion in net assets (as of December 2004).