BNY Mellon Asset Management has bought a 20% stake in Siguler Guff & Co. LLC, a multistrategy private-equity firm with $8 billion of assets under management and committed capital.
Siguler's investment offerings include a fund of funds that target distressed securities in emerging markets such as Brazil, Russia, India and China. The funds invest in small-capitalization buyout opportunities.
"Institutional and individual investors are seeking more diversification and increased exposure to alternatives," Ronald P. O'Hanley, the chief executive of BNY Mellon Asset Management, said in a news release Monday. "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 price of the acquisition was not disclosed.
Siguler, founded in 1991 as part of PaineWebber, focuses its investments across three business lines: fund of funds, advisory activities and direct investment funds. The company became independent in 1995.
Siguler and BNY Mellon Asset Management, which is a unit of Bank of New York Mellon Corp., formed a strategic alliance in January, when BNY Mellon began distributing Siguler's products and services globally.