Mellon Financial's asset services division agreed to acquire DPM, a hedge fund administrator that oversees $30 billion for 91 clients. Terms of the deal were not disclosed. DPM also offers middle- and back-office outsourcing and transparency services. The deal is expected to close in the first quarter. Mellon intends to expand hedge fund services in Europe, through a new service facility that will be established in Dublin, said James P. Palmero, president of Mellon Global Securities Services and vice chairman of Mellon Financial.