JOURNAL ARTICLE

MetLife to Buy Li's PineBridge in Asset Management Push.

  • Published In: Bloomberg.com, 2024. P. N.PAG 1 of 3

  • Database: Business Source Ultimate 2 of 3

  • Authored By: Baigorri, Manuel; Rajbhandari, Alexandre 3 of 3

Abstract

MetLife Inc. has agreed to acquire PineBridge Investments' assets outside of China from Richard Li's Pacific Century Group for $800 million, with additional payments contingent on financial goals. The deal, expected to close in 2025, excludes PineBridge's private equity funds and China joint venture with Huatai Securities Co. MetLife Investment Management will have over $700 billion under management post-acquisition, expanding its global footprint significantly. The acquisition aims to accelerate growth in asset management for MetLife, positioning it strategically in the market. [Extracted from the article]

Additional Information

  • Source:Bloomberg.com. 2024/12, pN.PAG
  • Document Type:Article
  • Subject Area:History
  • Publication Date:2024
  • Accession Number:181835423
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