BNY Mellon has agreed to acquire Cutwater Asset Management, a US-based fixed income specialist with $23bn in assets under management.
Following the deal, Cutwater will operate as part of BNY Mellon Investment Management and will be administered by Insight Investment, BNY Mellon’s premier investment management boutiques.
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The acquisition will boost BNY Mellon’s and Insight’s US platform and abilities to provide specialized fixed income solutions.
Additionally, the takeover of Cutwater will expand Insight’s current fixed income capabilities, strengthening its fixed income research and portfolio management expertise.
Cutwater, a subsidiary of MBIA, offers a wide range of fixed income strategies such as core, long duration, high yield, loans and absolute return strategies.
Abdallah Nauphal, CEO and CIO, Investments, Insight Investment, said: "Insight has grown by aligning our investment solutions with the needs of our clients. Cutwater’s strong U.S. domestic fixed income and solutions track record and experienced team will complement Insight’s strategy in the U.S. as we build upon our existing position as a European leader in liability risk management and fixed income."
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