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Article: BNY Mellon's play for LDI; Deal for Insight boosts firm's global presence after losing out in BGI bid.(NEWS)(Company overview)
- Article from:
- Pensions & Investments
- Article date:
- August 24, 2009
CopyrightCOPYRIGHT 2009 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Thao Hua
After having lost out to BlackRock Inc. in wooing Barclays Global Investors earlier this year, Bank of New York Mellon Corp. wasted little time in courting another firm.
On Aug. 12, the firm announced its acquisition of London-based Insight Investment Management Ltd., a specialist in liability-driven investing with about [pounds sterling]80 billion ($131 billion) in assets under management. The deal would push BNY Mellon Asset Management, its money management operation, back over the $1 trillion mark in assets under management and could turn the firm into an international LDI powerhouse.
The transaction, which is scheduled to ...