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Products December 10, 2002
Mellon Expands Interest in Hedge Manager
October 24, 2001(PLANSPONSOR.com) - Mellon Financial
Corporation has acquired a 15% equity stake in Optima Fund
Management for an undisclosed amount.
Reported by Camilla Klein
This acquisition follows a June 2000 Mellon-Optima alliance, which offered Mellon Private Asset Management’s high net-worth clients exclusive access to Optima’s line-up of hedge funds.
Optima, managing some $1.7 billion in assets, is a specialist in multi-manager and single manager hedge fund investments. The firm offers 22 funds through its Bermuda-based affiliate.
Under the terms of that agreement, no other US financial services firm may offer Optima hedge fund investment vehicles.