The Bank of New York Expands its Servicing for Private Equity and Venture Capital Structures
LONDON, April 19, 2007 – The Bank of New York, a global leader in securities services, has expanded its private equity servicing capability to further strengthen the Bank's leadership position in supporting alternative investments. The Bank has been appointed by Global Capital Partners, a 100% subsidiary of Global Investment House, to service their Global Buyout Fund, which will target buyout opportunities in the Middle East and North Africa, Turkey, China, India and Pakistan.
The Bank is offering private equity fund sponsors, fund accounting, investor services, financial reporting, corporate governance and tax support services in multiple domiciles. These enhanced services supplement the Bank's market leading capability in supporting alternative investment structures such as Hedge Funds, Fund of Funds, Limited Partnerships and ETFs on behalf of the Bank's clients.
Shailesh Dash, CFA, senior vice president and head of private equity at Global Investment House, said, "We selected The Bank of New York due to their proven track record and experience servicing alternative investment structures, their focus on the region and their strong relationship management approach."
Mark Kerns, executive vice president and head of fund manager services at The Bank of New York, said, "We are pleased that Global Investment House has selected The Bank of New York. The Bank continues to utilize our expertise in the servicing of complex investment vehicles to provide clients a full range of solutions to meet their business needs."
Hani Kablawi, managing director and head of client management for the Middle East & Africa at The Bank of New York, said, “The Bank of New York continues to support the drive to invest within the region and to attract foreign investment. Helping leaders like Global Investment House administer products such as the Global Buyout Fund will go a long way towards achieving that goal.”
The Bank of New York Company, Inc. (NYSE: BK) is a global leader in providing a comprehensive array of services that enable institutions and individuals to move and manage their financial assets in more than 100 markets worldwide. The Company has a long tradition of collaborating with clients to deliver innovative solutions through its core competencies: securities servicing, treasury management, asset management, and wealth management. The Company's extensive global client base includes a broad range of leading financial institutions, corporations, government entities, endowments and foundations. Its principal subsidiary, The Bank of New York, founded in 1784, is the oldest bank in the United States and has consistently played a prominent role in the evolution of financial markets worldwide. Additional information is available at www.bankofny.com.
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