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BNY Mellon
BNY Mellon administers $142.2 billion in committed capital on
behalf of private equity funds, funds of private equity funds and
other fund managers pursuing private equity fund strategies.
Clients are located in North America and Europe for the most
part. The bank provides a full set of services out of offices in
New York, Florida, Delaware, New Jersey and Dublin.
“Our support to fund managers includes fund set up, document
management, managing investor services, such as generating
and transmitting capital call and distribution notices, processing
cash and reconciliations, accounting services, including record-
ing transactions, calculating fee accruals, distribution water-
falls and valuations, as well as reporting,” says the bank. “For
SCORES BY CATEGORY
investors, we provide cash management support, valuations,
document management, reporting and performance and analyt-
ics. We also act as a liaison between the client and the general
partner to track and reconcile investment activity.”
The fund manager response base for BNY Mellon in this year’s
survey comprises relatively larger funds than other providers.
Comments provided are generally complimentary of human
interaction with the firm, with aspects of software and systems
coming in for criticism. “The team is very responsive towards
our questions and queries. All outstanding matters are usually
resolved within a day or two,” says one of the largest clients.
The bank itself is in the midst of a major technology up-
grade, focusing on the digital experience for alternative clients,
including private equity, infrastructure, real estate and hedge
managers, and funds of funds through NEXEN, BNY Mellon’s
next- generation digital ecosystem.
Category Average
Score North
America Europe Asia Rest of
World Client Service and Relationship
Management 5.37 5.80 4.93 5.60 n/a Value Delivered 5.36 5.00 5.56 5.00 n/a Fund Establishing and Structuring 5.55 6.00 5.33 n/a n/a Capital Drawdowns 6.03 5.75 6.13 6.00 n/a Investment Execution 5.24 n/a 5.40 3.50 n/a Accounting and Reporting To
Limited Partners/Investors 5.93 6.00 6.10 5.45 n/a Accounting and Reporting To
General Partners 5.43 n/a 5.40 5.67 n/a Compliance Support 5.04 5.00 5.40 4.00 n/a ■
Reporting 5.35 6.00 5.67 4.17 n/a ■
Regulatory Reporting 4.58 n/a 4.50 5.00 n/a ■
Technology 5.73 6.33 5.71 7.00 n/a
RESPONDENTS BY REGION (WEIGHTED)
12.9
RESPONDENTS BY SIZE (WEIGHTED)
6.5
19.4
19.4
48.4
■
North America
Europe
Asia
RoW
93.5
19.4
48.4
19.4
12.9
■
■
■
■
■
Very Large
Large
Medium
Small
Very Small
93.5
6.5
0.0
0.0
0.0
RATINGS BY PERCENTAGE OF RESPONSES
Category Excellent
(7) Very good
(6) Good
(5) Satisfactory
(4) Weak
(3) Very weak
(2) Unacceptably
weak (1) Not
answered
Client Service and Relationship Management 17.50 40.00 15.00 12.50 15.00 0.00 0.00 0.00
Value Delivered 16.67 16.67 8.33 20.83 4.17 0.00 0.00 33.33
Fund Establishing and Structuring 12.50 25.00 12.50 12.50 0.00 0.00 0.00 37.50
Capital Drawdowns 29.17 25.00 8.33 16.67 0.00 0.00 0.00 20.83
Investment Execution 4.17 16.67 0.00 4.17 4.17 4.17 0.00 66.67
Accounting and Reporting To Limited Partners/Investors 17.50 32.50 12.50 2.50 0.00 5.00 0.00 30.00
Accounting and Reporting To General Partners 2.50 25.00 2.50 7.50 2.50 0.00 0.00 60.00
Compliance Support 6.25 18.75 12.50 37.50 0.00 0.00 0.00 25.00
Reporting 25.00 25.00 25.00 6.25 12.50 6.25 0.00 0.00
Regulatory Reporting 0.00 6.25 6.25 0.00 6.25 0.00 0.00 81.25
Technology 29.17 16.67 12.50 16.67 0.00 0.00 0.00 25.00
14.58 22.50 10.49 12.46 4.05 1.40 0.00 34.51
The Private Equity Issue 2017
globalcustodian.com
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