NEW YORK- BNY Mellon Investment Management (“BNY Mellon”) and Amherst Holdings, LLC (“Amherst” or “Amherst Holdings”), today announced the completion of the transaction through which BNY Mellon has exchanged its majority equity interest in Amherst Capital Management LLC (“Amherst Capital”) for a minority equity stake in Amherst Holdings (“Amherst”).
Texas Treasury Safekeeping Trust Company1 (“TTSTC”), a founding seed investor in Amherst Capital, also completed the exchange of its economic interest in Amherst Capital for an interest in Amherst Holdings. Originally announced on May 14, 2018, the terms of the transaction were not disclosed.
Sean Dobson, Chairman and CEO of Amherst, said, “Through the integration of Amherst Capital, we will now be able to more efficiently harness our complete, vertically integrated real estate investment platform to provide clients our full breadth of innovative strategies, while also further investing in our people and investment offerings. We look forward to continuing our successful relationship with BNY Mellon and TTSTC by offering access to Amherst Capital’s real estate private debt, private equity, and public securities strategies, as well as Amherst’s full suite of real estate investment solutions.”
Amherst Capital will now operate as a wholly owned subsidiary of Amherst, which, along with its affiliates and subsidiaries, will have more than $3.6 billion under management and approximately $15 billion under advisement and oversight through its affiliated broker dealer, Amherst Pierpont. BNY Mellon will continue to offer Amherst Capital’s real estate solutions to its clients, while benefiting from the ongoing growth and potential to engage with Amherst on other real estate investment opportunities.