Oddo Asset Management (Oddo AM) has appointed BNY Mellon as fund administrator and custody services provider for its new fund, Orsay Merger Arbitrage.
Oddo AM, the asset management branch of French financial services group Oddo & Cie, launched the merger arbitrage fund in June 2011 with 100 million seed capital, following its acquisition of Banque DOrsay in October 2010.
Pierre Baudard, chief operating officer of Oddo Asset Management said: Orsay Merger Arbitrage is the flagship product of our new alternatives business and BNY Mellons combined expertise in fund administration and custody will be a huge benefit to Oddo as we expand our hedge fund presence.
(JDC)