Alt. Investment Manager Picks Up Capital Infusion

December 3, 2002 ( - State Street Global Alliance has acquired a minority stake in BDC Asset Management, LLC, an alternative investment manager, according to a press announcement.

State Street Global Alliance is jointly owned between State Street Global Advisors and the Dutch pension fund ABP, according to the announcement. Terms of the deal were not disclosed.

The announcement said that BDC has strong links to the capital markets in addition to its alternative investments research capability.

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ABP is the public employee pension fund for employees in the governmental and education sectors in the Netherlands. It is the second largest pension fund in the world.