BNY Mellon has completed the acquisition of Cutwater Asset Management, a US-based fixed income specialist with $23bn in assets under management.
Under the deal, Cutwater will operate as part of BNY Mellon’s Investment Management unit and will be administered by Insight Investment, BNY Mellon’s premier investment management boutiques.
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The acquisition of Cutwater will strengthen BNY Mellon’s and Insight’s fixed income research and portfolio management expertise.
The terms of the deal have not been disclosed.
Cutwater offers a wide range of fixed income strategies such as core, long duration, high yield, loans and absolute return strategies.
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