BNY Mellon has completed the acquisition of Insight Investment Management Ltd from Lloyds Banking Group plc. Based in London, Insight Investment specialises in Liability Driven Investment (LDI) solutions, active fixed Income and absolute return. Its clients include some of the UKs largest pension schemes, corporates, insurance companies and local authorities, along with a growing number of non-UK clients and some of the best known financial services and intermediary companies. Insight Investments assets under management, net of identified internal assets that will be retained by another part of the Lloyds Banking Group, are approximately US$133 billion.
Insight Investment joins the other investment boutiques at BNY Mellon Asset Management, a leading global asset management franchise. With this acquisition, BNY Mellon will have more than US$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.”
Founded in 2002, Insight Investment has delivered year on year organic growth in assets under management. Through the development of its specialist investment capabilities, Insight Investment is now the third largest manager of UK pension funds. Despite a difficult market environment in 2008, Insight Investment was the fastest growing UK institutional asset manager with strong growth in assets under management, revenue and profitability. In 2009, these positive trends have continued as Insight Investment has expanded its external client franchise through net sales in LDI solutions and sustained growth in fixed income, absolute return, multi-asset and liquidity strategies.
BNY Mellon Asset Management is a leading global provider of investment management products and services offering a broad range of equity, fixed-income, hedge and liquidity management products through individual asset management companies and multiple distribution channels.
