NEW YORK (Map) - NEW YORK, May 12 /PRNewswire-FirstCall/ -- The Bank of New York Mellon (NYSE: BK), a global leader in asset management and securities servicing, announced today that it has acquired the fund of hedge funds administrative services business of LAMP Technologies LLC, a Dallas-based alternative investment administrator.

Formed in 1997, LAMP Technologies specializes in servicing alternative investment vehicles such as funds of hedge funds. Terms of the agreement were not disclosed.

"This acquisition attests to our commitment to offer clients state-of-the-art technology, customized service solutions, and expanded reporting capabilities," said Art Certosimo, executive vice president at The Bank of New York Mellon. "We welcome LAMP's fund of hedge funds servicing professionals to our organization, which will only further strengthen and broaden our team of experts.

"Through continual product innovation, as offered through the LAMP technology platform, we enable clients to better focus on their core competency of managing money while achieving additional alpha through operational excellence," Certosimo added.

"By becoming part of The Bank of New York Mellon, clients will now have a single, comprehensive source for their complex and evolving investment servicing needs," said Aladin Abughazaleh, chief executive officer of LAMP Technologies and now a member of The Bank of New York Mellon team. "Fund of hedge fund managers will greatly benefit from the extensive range of services they'll be able to access on an integrated basis, including a market-leading web-based reporting tool for fund assets which will provide the level of transparency that our clients need."

The Bank of New York Mellon is a leading hedge fund administrator with more than $200 billion in assets under administration and an extensive global presence, including locations in Bermuda, Cayman Islands, Hong Kong, Ireland, Luxembourg, Singapore and the United Kingdom, as well as US offices in California, Florida, Massachusetts, New Jersey, New York, Pennsylvania and Texas. In addition to hedge fund administration the company offers a wide range of accounting, cash management, collateral management, custody, corporate trust, asset management and wealth management services to the hedge fund industry.

The Bank of New York Mellon Corporation is a global financial services company focused on helping clients manage and service their financial assets, operating in 34 countries and serving more than 100 markets. The company is a leading provider of financial services for institutions, corporations and high-net-worth individuals, providing superior asset management and wealth management, asset servicing, issuer services, clearing services and treasury services through a worldwide client-focused team. It has more than $23 trillion in assets under custody and administration, more than $1.1 trillion in assets under management and services $12 trillion in outstanding debt. Additional information is available at bnymellon.com.