BNY Mellon to acquire US Cutwater Asset Management
BNY Mellon has announced that it has reached an agreement to acquire Cutwater Asset Management, a US-based fixed income and solutions specialist with a 20-year track record and approximately $23bn in AUM.
Located in Armonk, NY, the firm is currently a wholly-owned subsidiary of MBIA Inc.
Upon completion of the deal, Cutwater will operate as part of BNY Mellon Investment Management and will work closely with, and be administered by, Insight Investment. Insight is one of BNY Mellon’s investment management boutiques and one of Europe’s leading investment managers.
The addition of Cutwater’s capabilities will enhance BNY Mellon’s and Insight’s US platform and abilities to offer specialized fixed income solutions.