Buying Spree
Welcome to FundFire's News Brief.
Cambridge Associates last week announced its first-ever acquisition, a deal to buy a Swiss alternative investment specialist shop with $3 billion under management, Sabiq Shahidullah reported last week.
Cambridge plans to bring over 10 employees through the deal and integrate the unit into its broader business.
But that wasn't the only industry deal inked last week.
BNY plans to acquire Archer, which provides separately managed account providers with outsources technology and operations support. BNY plans to apply Archer's technology across its organization to support managed accounts and to improve its existing asset servicing capabilities and Pershing X platform. Read more from Associate Editor Tony Rifilato here.
And Natixis Investment Managers is offloading MV Credit, its $5.1 billion private credit unit. Clearlake Capital Group will take over the manager, which focuses on senior direct lending, subordinated direct lending, and hybrid and collateralized loan obligation strategies within upper-mid-cap private debt. Read more from Reporter Sam Heller here.
Chart of the Week
In search of more diversification, some institutional investors are pulling back from their core bond allocations in favor of other types of fixed income, Senior Reporter Justin Mitchell reports.
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