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BNY Mellon Asset Management acquires stake in Siguler Guff.

Global Banking News-3 November 2009-BNY Mellon Asset Management acquires stake in Siguler Guff(C)2009 ENPublishing -

Global Banking News - 03 November 2009(c)2005 - Electronic News Publishing -

BNY Mellon Asset Management has announced that it has acquired a 20% minority interest in Siguler Guff & Company LLC, a multi-strategy private equity firm.

The firm has approximately USD8bn in assets under management and committed capital. Siguler Guff offers fund of funds targeting distressed security investing. It also invests in emerging markets, including Brazil, Russia, India and China (BRIC).

Ronald P O'Hanley, president and chief executive officer of BNY Mellon Asset Management, said, 'In the aftermath of the financial crisis, institutional and individual investors are seeking more diversification and increased exposure to alternatives. Moreover, the stress in large cap buyout investing has led investors to rethink and reallocate private equity investments. Current market conditions have led to extraordinary demand for distressed opportunity managers, and Siguler Guff is particularly well positioned to take advantage of distressed situations and the emerging markets, which are among the most promising areas for private equity investors.'

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Publication:Global Banking News (GBN)
Date:Nov 3, 2009
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