BNY Mellon is set to acquire US-based fixed income and solutions specialist Cutwater Asset Management, bolstering Insight Investment's capabilities in the process.
The specialist asset manager, which is currently a wholly-owned subsidiary of MBIA, is based in Armonk, New York, and has around $23bn in assets under management. The transaction is expected to close by the start of next year, making Cutwater part of BNY Mellon Investment Management. The new subsidiary will work closely with, and be administered by, Insight Investment, BNY Mellon's fixed income- and absolute return-focused subsidiary. Cutwater offers a wide range of fixed income strategies including long duration, high yield, loans and absolute return. Curtis Arledge (pictured),...
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