BNY Mellon buys a piece of private-equity firm Siguler Guff

Nov 2, 2009 @ 1:50 pm

By Douglas Appell

BNY Mellon Asset Management acquired a 20% minority interest in Siguler Guff, a New York-based multistrategy private equity firm with roughly $8 billion in assets under management and committed capital.

Terms weren't disclosed.

The deal gives multiboutique giant BNY Mellon its first stake in a private equity firm, confirmed BNY Mellon spokesman Mike Dunn.

In its news release, Ronald P. O'Hanley, BNY Mellon's president and CEO, said Siguler Guff is well positioned to take advantage of surging demand for distressed opportunity managers in private equity.

The two companies in January formed a strategic alliance in which BNY Mellon would distribute Siguler Guff's products and services globally; also, Siguler Guff in May took over management of a WestLB Mellon Asset Management private equity fund of funds.

Siguler Guff offers both fund of funds focused on distressed security investing, emerging markets and small-cap buyout opportunities.

Contact Douglas Appell at dappell@pionline.com

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