BNY Mellon Acquires Cutwater Asset Management - Quick Facts

(RTTNews) - BNY Mellon (BK) announced the successful acquisition on January 2, 2015, of Cutwater Asset Management, a U.S.-based fixed income and solutions specialist with a 20-year track record and about $22 billion in assets under management.

Cutwater will now operate as part of BNY Mellon's $1.6 trillion in assets multi-boutique investment management business. It will work closely with, and be administered by, Insight Investment, European asset manager and one of BNY Mellon's premier investment firms.

Cutwater's investment capabilities encompass a wide range of U.S. fixed income strategies including core, long duration, high yield, loans, absolute return and liability risk management.

BNY Mellon announced its intention to acquire Cutwater from MBIA Inc. on October 6, 2014. The terms of the transaction were not disclosed.