Reported about 13 hours ago
MetLife has announced a deal to acquire PineBridge Investments from Richard Li's Pacific Century Group for up to $1.2 billion, aiming to enhance its asset management services. This acquisition aligns with a growing trend among insurers to utilize assets for innovative investment solutions. Upon completion, MetLife's assets under management are projected to surpass $700 billion, excluding certain private equity funds. The deal includes an $800 million upfront payment and potential additional payments tied to 2025 financial targets.
Source: YAHOO