Private equity fund administration expertise offered
Alan Flanagan, managing director and global head of BNY Mellon private equity fund services product, believes the worlds of private equity and hedge funds are growing closer. This convergence, he says, is epitomised by the hybrid investment forms that are being used to tap into the structured credit market.
On the surface, private equity and hedge fund structures have little in common. Private equity funds are generally close-ended with a typical life time of around seven years, during which the goal is to acquire a private company, improve value and operational efficiencies by restructuring and/or refinancing and exit through a private sale or initial public offering. Hedge funds are open-ended with investors having the option to enter and exit at predetermined intervals.
The two distinct business
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