BNY Mellon Asset Management has acquired a 20 per cent minority interest in Siguler Guff, a multi-strategy private equity firm with approximately USD8bn in assets under management and committed capital.
Siguler Guff’s focused investment offerings include fund of funds targeting distressed security investing, investing in emerging markets, including Brazil, Russia, India and China (BRIC), and investing in small cap buyout opportunities.
Siguler Guff focuses its investments across three different business lines: fund of funds, advisory activities and direct investment funds. Founded in 1991 within Paine Webber, Siguler Guff became an independent firm in 1995.
“In the aftermath of the financial crisis, institutional and individual investors are seeking more diversification and increased exposure to alternatives. Moreover, the stress in large cap buyout investing has led investors to rethink and reallocate private equity investments,” says Ronald P.O’Hanley (pictured), president and chief executive officer of BNY Mellon Asset Management. “Current market conditions have led to extraordinary demand for distressed opportunity managers, and Siguler Guff is particularly well positioned to take advantage of distressed situations and the emerging markets, which are among the most promising areas for private equity investors.”
The two companies formed a strategic alliance in January 2009, when Siguler Guff engaged BNY Mellon to distribute the products and services of Siguler Guff globally. In May 2009, Siguler Guff Advisers, Siguler Guff’s registered investment adviser subsidiary, became the investment adviser of the private equity fund of funds previously advised by West LB Mellon Asset Management.
“We are pleased to build on our relationship with BNY Mellon, which has served both firms well since we formed our initial strategic alliance at the beginning of this year,” says George W. Siguler, managing director and chief investment officer of Siguler Guff. “The global reach of BNY Mellon will help us expand our footprint and work closely with key institutions around the world.”
Terms of the transaction were not disclosed.
