Bank of New York Mellon has completed the acquisition of Insight Investment Management from Lloyds Banking Group. Based in London, Insight Investment specialises in liability driven investment (LDI) solutions, active fixed income and absolute return.
Insight Investment clients include some of the UK-based pension schemes, corporates, insurance companies and local authorities, along with a growing number of non-UK clients and some of the financial services and intermediary companies.
According to the BNY Mellon, Insight Investment joins the other investment boutiques at BNY Mellon Asset Management. With this acquisition, the company is expected to have more than $1 trillion in assets under management.
Jon Little, vice chairman of BNY Mellon asset management, said: “We are very pleased to acquire an organisation with such an impressive management team and capabilities in an area of growing UK and international demand. In addition BNY Mellon Asset Management will become one of the largest managers of UK pension funds and UK mutual funds.”
