BNY Mellon takeover of Insight Investment from Lloyds finalised

BNY Mellon has completed the acquisition of Insight Investment Management from Lloyds Banking Group.

London-based Insight Investment specialises in liability driven investment (LDI), active fixed income and absolute return. Clients include some of the UK’s largest pension schemes, corporates, insurance companies and local authorities as well as a growing number of non-UK clients and financial services and intermediary companies.

Insight Investment’s assets under management, net of identified internal assets that will be retained by another part of the Lloyds Banking Group, are approximately $133 billion (£83 billion).

The specialist unit joins the other investment boutiques at BNY Mellon Asset Management, a global asset management franchise.

With this acquisition, BNY Mellon will have over $1 trillion (£630 billion) in assets under management.

Insight Investment has delivered year on year organic growth since it was set up in 2002 and is now the third largest manager of UK pension funds. Despite a difficult market environment in 2008, Insight Investment was the fastest growing UK institutional asset manager with strong growth in assets under management, revenue and profitability.

In 2009 Insight Investment has expanded its external client franchise through net sales in LDI and sustained growth in fixed income, absolute return, multi-asset and liquidity strategies.