The Bank of New York surpassed the $100 billion mark in hedge fund...

The Bank of New York surpassed the $100 billion mark in hedge fund assets under administration as of mid-January, confirmed spokesman Kevin Heine. The bank expects global institutional demand for hedge funds to increase from a total institutional investment universe of $360 billion currently to more than $1 trillion by 2010, based on data from an October study by the bank and consultant Casey, Quirk & Associates. The bank had $16 billion in hedge fund assets under administration five years ago, Mr. Heine said. Marina Lewin, managing director, said the $100 billion milestone puts Bank of New York in the top 10 firms in terms of hedge fund assets under administration.