MetLife Investment Management closes PineBridge acquisition
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The news: MetLife Investment Management (MIM), the institutional asset management business of New York-listed MetLife, has closed on its acquisition of PineBridge Investments.
The numbers: The combined business manages USD734.7 billion ($1.1 trillion) of assets.
The context: MIM announced the acquisition of PineBridge from the Pacific Century Group in December 2024.
More than half of the client assets acquired in the transaction are held by investors outside of the US, with one-third in Asia. The acquisition excludes PineBridge’s private equity funds group business and its joint venture in China.
MIM also announced today that its president, Brian Funk, will lead the combined business.
What they said: “Together, we are building a firm designed to meet today’s market challenges and capture tomorrow’s investment opportunities,” said John McCallion, chief financial officer of MetLife and head of MIM.
“We’re confident the combination of these two firms furthers our ambition to accelerate growth in line with our New Frontier strategy.”
The source: MetLife media release
