BNY Mellon has been appointed as depositary for a significant proportion of the alternative investment holdings of Alceda Asset Management in Germany and Alceda Fund Management in Luxembourg.
The mandate will also cover assets held in alternative investment funds issued by Aquila Capital.
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Both Aquila Capital and Alceda are part of the Aquila Group, which currently has over 250 staff and EUR 7.2 billion assets under management.
Additionally, BNY Mellon and Alceda Asset Management will work together to establish the first agricultural fund issued under the terms of the new legislation.
Thomas Brand, head of investment services at BNY Mellon in Germany, said: "BNY Mellon is already the third-largest service provider in the field of alternative investments globally and has a strong reputation for innovation, regulatory insight and service provision.
"We are pleased to be able to harness our wealth of knowledge and experience for the benefit of such a valued client as Alceda and look forward to supporting them as they continue to grow and transform their business."
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