BNY Mellon Investment Management completes sale of CenterSquare
BNY Mellon Investment Management has completed the sale of investment boutique CenterSquare Investment Management to the private equity firm Lovell Minnick Partners and CenterSquare's management team.
Originally announced on 20 September, 2017, the terms of the transaction have not been disclosed.
Todd Briddell, CEO and CIO of CenterSquare Investment Management, says: "We are excited about the next phase of CenterSquare's evolution, as we continue to bring premier real estate and infrastructure strategies to the market while investing in the development and growth of our company. Lovell Minnick shares our vision for the future of CenterSquare and we are delighted to partner with them."
CenterSquare will now operate as an independent entity owned in a partnership between CenterSquare's management team and Lovell Minnick Partners. BNY Mellon and CenterSquare will continue to collaborate on investment solutions via a number of sub-advisory arrangements.