BNY Mellon Alternative Investment Services has been appointed as global custodian by The Sturgeon Fund, the Central-Asia focused hedge fund managed since 2006 by Clemente Cappello.
Cappello, a former analyst at asset management firm Notz Stucki, launched the Sturgeon Fund in December 2006. In November 2008, the fund had assets worth $30 million.
Taco Sieburgh Sjoerdsma, who joined Sturgeon Capital as CFO in June of this year, said: Through a thorough selection process, we chose to work with BNY Mellon as it is very well capitalized and has extensive emerging markets coverage. BNY Mellons experience, reputation and credit rating as a custodian were also key. Appointing BNY Mellon is part of an upgrade of our corporate infrastructure, which also includes opening an office in London, FSA authorisation and redomiciling the Funds investment manager from Cayman to Malta.
David Aldrich, managing director and head of alternative investment services EMEA at BNY Mellon said: BNY Mellon is committed to helping our hedge fund clients reduce their counterparty risk while allowing them to continue to use their preferred broker. Our appointment allows Sturgeon to consolidate its unencumbered cash and securities portfolio with one custodian, bringing operational efficiencies.