Mellon to sell off its HBV hedge fund arm
| Dec 6th, 2006 | Filed under: Hedge Fund Industry Trends | By: Alpha Male |
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By: Deborah Brewster, Financial Times
Published: December 6, 2006
Notwithstanding BNY Mellon’s apparent affection for hedge funds, it looks like certain illiquid strategies just don’t make the grade. The newly-minted firm announced today that it would shed its Mellon HBV division – selling it back to previous owner, Mickey Harley, who is currently the group’s chief. The firm will be called Fursa Alternative Strategies and will pursue non-US activist strategies.
Harley tells the Financial Times:
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