Bridgewater Associates, as expected, outsourced the middle- and back-office processes to BNY Mellon for about $125 billion of assets managed in hedge fund and long-only strategies, confirmed Eileen Murray, co-CEO, in an interview.
Bridgewater Associates' entire back-office operations, including about 100 employees and an office in Westport, Conn., will become part of BNY Mellon's asset servicing business on Dec. 5.
BNY Mellon has provided various fund operations services, including custody, fund accounting and administration to Bridgewater since 1991, according to a BNY Mellon news release.
