BNY Mellon Wins Marble House Capital Mandate

Marble House Capital has appointed BNY Mellon to provide custody services and related control functions to a number of portfolio funds and future retail alternative investment funds (AIFs) and special AIFs.
By Charlie Woodward(2147487990)
Marble House Capital has appointed BNY Mellon to provide custody services and related control functions to a number of portfolio funds and future retail alternative investment funds (AIFs) and special AIFs.

The decision comes in response to the current implementation of the Alternative Investment Fund Managers Directive (AIFMD) and the German Capital Investment Code, which have introduced requirements for close-ended AIFs investing in real assets to employ a custodian. It is the first time that BNY Mellon has ever acted as custodian for closed-end private equity funds in Germany.

Thomas Brand, head of Investment Services at BNY Mellon in Germany, says, “Our arrangement with Marble House Capital will extend our custodian services in Germany in the closed-ended alternative investment segment to include private equity as an asset class for the first time. BNY Mellon is already the third-biggest service provider in the alternative investments segment globally. With some $300 billion in private equity assets in custody worldwide, we can put our extensive international experience to good use to benefit Marble House Capital and our other German clients.”

Marble House Capital’s CEO, Roderich Widenmann, adds, “In terms of its global positioning and international expertise in the private equity asset class, BNY Mellon is the ideal partner for us. The increase in transparency and investor protection afforded by appropriate custody of our private equity funds is of key importance within the scope of the new statutory regulations. In BNY Mellon, we have found a leading partner for our private equity business on an international scale. We really look forward to working closely with BNY Mellon.”

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