MetLife Investment Management (MIM), the institutional asset management business of MetLife, Inc., has completed its acquisition of PineBridge Investments, creating a combined platform managing $734.7 billion in assets for clients globally.
“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. “We’re confident the combination of these two firms furthers our ambition to accelerate growth in line with our New Frontier strategy.”
MIM also announced a new senior leadership team drawn from both organisations. Brian Funk, president of MIM, will lead the combined business following completion of the transaction.
“Our leadership team reflects the best of both firms,” said Funk. “Together, our expertise and shared vision enable us to generate greater long-term value for our clients.”
Fund managers increase risk appetite amid acquisition opportunities
MIM first announced the agreement to acquire PineBridge in December 2024, purchasing the business from Pacific Century Group. More than half of the client assets acquired are held by investors outside the U.S., with approximately one-third based in Asia. The transaction excludes PineBridge’s private equity funds group and its China joint venture.
