Cutwater is a fixed income specialist with a 20-year track record and approximately $22bn in assets under management.
The new acquisition will sit in BNY Mellon’s ‘multi-boutique investment management business, which has around $1.6trn under management. It will be working closely with the team at Insight Investment.
Cutwater offers a wide range of US fixed income strategies including core, long duration, high yield, loans, absolute return and liability risk management.
BNY Mellon said it believes the move will deepen its fixed income research and portfolio management expertise in the US, the world’s biggest credit market.
BNY ‘s intention to acquire Cutwater from MBIA Inc was first announced on 6 October last year.
