BNY Mellon announced today that it has acquired Cutwater Asset Management, a fixed income and solutions specialist with a 20-year track record and approximately $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, according to a statement. It will work closely with, and be administered by, Insight Investment, a leading 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. These capabilities will deepen BNY Mellon's and Insight's fixed income research and portfolio management expertise in the world's biggest and most diverse credit market.
BNY Mellon announced its intention to acquire Cutwater from MBIA Inc. on Oct. 6, 2014. The terms of the transaction were not disclosed.
