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M&A Deal Summary

BNY Acquires Cutwater Holdings

On January 5, 2015, BNY acquired financial services company Cutwater Holdings from MBIA

Acquisition Highlights
  • This is BNY’s 3rd transaction in the Financial Services sector.
  • This is BNY’s 6th transaction in the United States.
  • This is BNY’s 3rd transaction in New York.

M&A Deal Summary
Date 2015-01-05
Target Cutwater Holdings
Sector Financial Services
Buyer(s) BNY
Sellers(s) MBIA
Deal Type Divestiture

Target

Cutwater Holdings

Armonk, New York, United States
Cutwater Asset Management is a client-focused and solutions-based investment advisor focused exclusively on fixed income investments. With $22 billion in assets under management, Cutwater Asset Management ranks among the world's largest fixed-income only asset managers. Cutwater's model combines world-class investment expertise and risk management capabilities with exceptional client service, in-depth consultation, and extensive interaction between clients and the investment team.

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Buyer(S) 1

Buyer

BNY

New York, New York, United States
Category Company
Founded 1784
Sector Financial Services
Employees51,800
Revenue 18.3B USD (2024)
DESCRIPTION
BNY Mellon office outside of Wilmington, Delaware.
BNY Mellon office outside of Wilmington, Delaware.

BNY is a global investments company dedicated to helping its clients manage and service their financial assets throughout the investment lifecycle. Whether providing financial services for institutions, corporations or individual investors, BNY was founded in 1784 and is based in New York, New York.

DEAL STATS #
Overall 7 of 9
Sector (Financial Services) 3 of 3
Type (Divestiture) 2 of 2
State (New York) 3 of 3
Country (United States) 6 of 7
Year (2015) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-05-02 HedgeMark International

New York, New York, United States

HedgeMark assists in the structuring, oversight, and risk monitoring of hedge funds, specifically dedicated managed accounts. More and more, institutional investors globally are using dedicated managed accounts – single investor funds – as a way to invest in hedge funds that allow for greater customization, transparency, liquidity and control.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-09-20 CenterSquare

Plymouth Meeting, Pennsylvania, United States

CenterSquare is a global investment manager focused on actively managed public and private real estate strategies. CenterSquare manages investments for institutional investors and high net worth individuals throughout global markets and across public and private capital sectors. CenterSquare was founded in 1987 and is based in Conshohocken, Pennsylvania.

Sell -

Seller(S) 1

SELLER

MBIA

Purchase, New York, United States
Category Company
Founded 1973
Sector Insurance
Employees61
Revenue 42M USD (2024)
DESCRIPTION

MBIA is a holding company that conducts business through two subsidiaries: MBIA Insurance Corporation and MBIA Asset Management. Its Insurance Corporation is a monoline financial guaranty insurance company that generates revenue by insuring the timely payment of principal and interest on financial instruments in return for a guaranty fee. Its Asset Management is a fixed income-focused asset management organization. MBIA was founded in 1973 and is based in Purchase, New York.

DEAL STATS #
Overall 1 of 2
Sector (Financial Services) 1 of 1
Type (Divestiture) 1 of 2
State (New York) 1 of 1
Country (United States) 1 of 1
Year (2015) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1997-11-14 CapMAC Holdings

United States

CapMAC Holdings, Inc. is a provider of software that unifies and coordinates robust voice and data communications and information sharing. The technology allows for seamless and concurrent communication, collaboration, information and application sharing among multiple business parties from computers to telephones to wireless devices. CapMAC Holdings is based in the United States.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-09-29 MBIA UK Insurance

London, United Kingdom

MBIA UK Insurance Ltd. is a provider of financial guarantee insurance for the public and structured finance markets.

Sell $347M
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