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BNY Asset Management buys Siguler Guff stake

Mon Nov 2, 2009 8:21am EST

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NEW YORK, Nov 2 (Reuters) - Bank of New York Mellon Corp's (BK.N) BNY Mellon Asset Management said it acquired a 20 percent stake in U.S. private equity investment firm Siguler Guff & Co.

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Terms of the transaction were not disclosed.

Siguler Guff, which has about $8 billion of assets under management, has fund of funds offerings targeting distressed security investing, investing in emerging markets and small cap buyouts.

In January, Siguler Guff engaged BNY Mellon to distribute its products and services globally. (Reporting by Paritosh Bansal, editing by Gerald E. McCormick) (For more M&A news and our DealZone blog, go to www.reuters.com/deals)

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