Private equity and hedge fund administrator Bank of New York Mellon was selected last week to provide global hedge fund custody services for Capula Global Relative Value Master Fund. It's the flagship fund investment managed by Capula Investment Management, the London-based government fixed-income specialist firm with nearly $4bn of assets under management. “We selected BNY Mellon as a global custodian as in the current economic environment it is important - to both the firm and to its clients - to have a provider with the financial stability to ensure the safekeeping of our assets,” said Neil McCallum, chief operating officer at Capula Investment Management. BNY Mellon was also selected to provide derivatives collateral management services to the Invensys Pension Scheme (IPS) via its DM Edge platform. The DM Edge system facilitates administrative, processing, reinvestment and valuation activities associated with posting and receiving collateral for over-the-counter derivatives transactions. BNY Mellon and IPS also partnered to develop single collateral management platform by which BNY Mellon will manage IPS's aggregate collateral requirements across asset managers and bank counterparts. As a hedge fund administrator, BNY Mellon has more than $210bn of assets under administration. As a provider of tri-party collateral management services, BNY Mellon services more than $1.8trn in tri-party balances worldwide. Write to Diana Golobay.