Press Releases - 2009

Mereor Absolute Return Fund selects GlobeOp for fund administration services

17 Nov 2009

LONDON, NEW YORK, PARIS - 17 November 2009 – Mereor Absolute Return Fund, which focuses on merger and credit arbitrage strategies, has selected GlobeOp Financial Services (LSE: GO) as its full-service fund administration provider. The fund is advised by Mereor Investment Management and Advisory SAS ("Mereor"), a Paris-based investment management firm, and is scheduled to launch in January 2010.

Mereor founding partner, Georges Gedeon, commented: "In today’s highly volatile climate, transparency, independent portfolio valuation and timely reporting are of paramount concern to fund managers and their investors. With GlobeOp we can offer our investors advanced web-based performance reporting and investment information to supplement more traditional regular reporting channels. Mereor’s combination of merger arbitrage and credit strategies – which we believe represents a unique investment approach – requires stable middle- and back-office support for a broad product set, integrated daily reporting and future growth. GlobeOp’s recognized ability to understand the unique nuances of merger arbitrage and credit strategies was a determining factor in selecting them as our administrator."

Mereor’s co-founding partner, Jean-Luc Biamonti, added that GlobeOp’s full service capabilities offer a significant advantage. "It is very important that our fund administrator is able to support us with an integrated middle-office, fund accounting and investor relations service. GlobeOp has shown a true understanding of our business model, our trading strategies and the scale and flexibility necessary to accommodate our growth. Their independence and operational strength is further supported by SAS 70 Type II certification. GlobeOp’s reporting capability and system openness is impressive and anticipates our investor needs."

"As fund managers identify new investment opportunities in the evolving financial market, there is also a strengthened requirement for an integrated operational, risk and investor reporting infrastructure," said Vernon Barback, GlobeOp president and chief operating officer. "We look forward to supporting Mereor with the flexible services and robust infrastructure its strategy and investors require."

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Notes to Editors

About Mereor Investment Management and Advisory
Mereor Investment Management and Advisory SAS ("Mereor") is a Paris-based asset management firm focused on merger arbitrage and credit strategies. Mereor’s founding partners are Georges Gedeon (a former asset manager at GLG Partners and an executive director in Investment Banking at Goldman Sachs), Jean-Luc Biamonti (formerly a partner in Investment Banking at Goldman Sachs, who co-headed the France and Belgium region and then the European Consumer Retail group), and Philippe Gedeon (formerly head of Fixed Income and Structured Products distribution for the MENA region at Daiwa and then head of Equity Derivatives distribution for the MENA region at Citigroup).

About GlobeOp Financial Services
GlobeOp Financial Services (LSE:GO.) is a leading, independent financial technology specialist providing automated, integrated middle- and back-office, administration and risk reporting services to hedge funds and asset management firms-including banks, insurance companies, mutual & pension funds and proprietary traders. Clients trading a wide range of asset classes and derivatives outsource to GlobeOp to reduce technology investments and operational risks, and to focus resources on asset generation and portfolio management. Established in 2000, GlobeOp serves over 180 clients worldwide, representing $100 billion in assets under administration (AuA). With headquarters in London and New York, GlobeOp employs more than 1,500 people on three continents; offices are also located in Dublin, Ireland; George Town, Cayman Islands; Harrison and Yorktown Heights, NY and Hartford, CT, U.S.A.; and Mumbai (Bombay), India. Further information: www.globeop.com

© 2009 - GlobeOp Financial Services LLC (GlobeOp). All rights reserved. GlobeOp and the GlobeOp "G" are trade and service marks of GlobeOp and its affiliates

Media Contacts

Mereor
Philippe Gedeon
Mereor
+33 1 55 74 01 04
pgedeon@mereorima.com

GlobeOp Financial Services
Nick Bird
Metia
+44 20 3100 3738
Nick.Bird@metia.com  

Sheryl Lee
Metia
+1 917 320 6462
Sheryl.lee@metia.com