BNY Mellon to acquire Insight for £235m

BNY Mellon will acquire approximately £80bn of assets from Insight's external fund management operations. The deal, worth a total of £235m, comprises of £200m in cash and an equity consideration of £35m. It is expected to complete in the final quarter of this year. BNY Mellon says Insight Investment will join its other global investment boutiques. With this acquisition, BNY Mellon will have more than $1trn in assets under management. Ronald O'Hanley, BNY Mellon Asset Management president and CEO, says Insight's specialism in Liability Driven Investment (LDI) was an important aspect...