HazelTree has partnered with Ovata Capital Management to deliver financing, collateral and custody services to the Hong Kong-based hedge fund manager.
The treasury solutions provider will assist Ovata in centralising the fund’s cash management function.
Under the mandate, the hedge fund manager gains access to HazelTree Cash Manager, which is integrated with BNY Mellon’s multi-currency platform, know as Liquidity Direct.
The investment platform enables clients to use BNY Mellon’s full suite of cash, treasury, collateral, financing, trading and custody services.
The combined BNY Mellon-Hazeltree solution is promised to assist the hedge fund’s streamline cash management processes and reduce counterparty and operational risks.
Nicholas Bloom, Ovata Capital COO, said: “Hazeltree provides us with an efficient centralised systematic approach to optimise our treasury function across cash and margin and eliminates the need to use multiple counterparty portals.”
Jonathan Spirgel, head of global liquidity and segregation services at BNY Mellon Markets, added: “The combined solution will help Ovata streamline their cash management processes as well as enable state-of-the-art robust investment capabilities and controls around managing balances.”
Sameer Shalaby, president and CEO of Hazeltree, said: “We are excited to be providing Ovata with an effective treasury solution to centralise its cash management function.”
