Transactions

Theme
Advised New York-based Aquila Investment Management, investment adviser to the Aquila Group of Funds, on the sale of six state-specific municipal fixed income mutual funds to New York Life Investment Management. The acquired funds, representing $1.2 billion in assets, will be reorganized into newly formed and existing funds sub-advised by MacKay Shields Municipal Managers, providing the funds and their shareholders access to MacKay Shields’ expertise in active municipal bond investing and broadening New York Life Investment Management’s current suite of municipal funds.