BNY Mellon buys two investment boutiques

BNY Mellon Asset Management, a unit of The Bank of New York Mellon Corp., today announced the purchase of two investment boutiques: one focused on the management of domestic Australian equities and the other on emerging markets equities and global fixed income. The launch of Ankura Capital PTY Ltd. of Sydney and Blackfriars Asset Management Ltd. of London follows The Bank of New York Mellon's purchase of two investment subsidiaries from its joint venture with WestLB AG of Düsseldorf, Germany, in December Ankura Capital manages about $1 billion in Australian equities and has a primarily Australian client base. The firm follows a quantitative investment approach. Blackfriars Asset Management has more than $2.3 billion in assets under management. It focuses on global and regional emerging-markets equity, debt and global fixed income. “Despite the challenging economic environment our business is well-positioned to weather the current market uncertainty,” Ronald P. O'Hanley, president and chief executive of BNY Mellon Asset Management, said in a statement “The launch of these two new boutiques recognizes our ability to meet clients' needs as they look to alternative sources for alpha.”