MetLife expands asset management arm with up to $1.2 billion deal for PineBridge

Reuters12-23 21:46

(Reuters) -The asset management arm of U.S. insurer giant MetLife has agreed to buy PineBridge Investments from Hong Kong billionaire Richard Li's Pacific Century Group (PCG) in a deal valued at up to...

Source Link

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2493761004?lang=en_US&edition=fundamental","thumbnail":"https://s.yimg.com/uu/api/res/1.2/6.1nRfMDKKZ7IAedmbBr1w--~B/aD01MzQ7dz04MDA7YXBwaWQ9eXRhY2h5b24-/https://media.zenfs.com/en/reuters-finance.com/7b4511ae868a8f435a8939d8cfc64ad5","is_english":true,"pubTime":"2024-12-23 21:46","share_image_url":"https://static.laohu8.com/5f26f4a48f9cb3e29be4d71d3ba8c038","id":"2493761004","market":"us","top_or_hot":-1,"title":"MetLife expands asset management arm with up to $1.2 billion deal for PineBridge","media":"Reuters","content":"<div>\n<p>(Reuters) -The asset management arm of U.S. insurer giant MetLife has agreed to buy PineBridge Investments from Hong Kong billionaire Richard Li's Pacific Century Group (PCG) in a deal valued at up to...</p>\n\n<a href=\"https://finance.yahoo.com/news/us-insurer-metlife-acquires-pinebridge-134614675.html\">Source Link</a>\n\n</div>\n","source":"yahoofinance","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>MetLife expands asset management arm with up to $1.2 billion deal for PineBridge</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nMetLife expands asset management arm with up to $1.2 billion deal for PineBridge\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-12-23 21:46 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/us-insurer-metlife-acquires-pinebridge-134614675.html><strong>Reuters</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>(Reuters) -The asset management arm of U.S. insurer giant MetLife has agreed to buy PineBridge Investments from Hong Kong billionaire Richard Li's Pacific Century Group (PCG) in a deal valued at up to...</p>\n\n<a href=\"https://finance.yahoo.com/news/us-insurer-metlife-acquires-pinebridge-134614675.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4162","symbol_name":"人寿与健康保险","start_time":0,"source_url":"https://finance.yahoo.com/news/us-insurer-metlife-acquires-pinebridge-134614675.html","article_id":"2493761004","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/6.1nRfMDKKZ7IAedmbBr1w--~B/aD01MzQ7dz04MDA7YXBwaWQ9eXRhY2h5b24-/https://media.zenfs.com/en/reuters-finance.com/7b4511ae868a8f435a8939d8cfc64ad5"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2493761004","pubTimestamp":1734961574,"columns":[],"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":" -The asset management arm of U.S. insurer giant MetLife has agreed to buy PineBridge Investments from Hong Kong billionaire Richard Li's Pacific Century Group  in a deal valued at up to $1.2 billion, the companies said on Monday.The acquisition will enable MetLife to expand its asset management capabilities, reflecting an emerging trend among insurers looking to leverage their assets for developing tailored investment platforms.MetLife Investment Management's assets include public fixed income, private capital and real estate investments. As of Sept. 30, it managed $609.3 billion in total assets.Following the completion of the PineBridge acquisition, its assets under management  are expected to exceed $700 billion.PineBridge was established in 1996 as AIG's investment advisory and asset management business and was acquired by Li's PCG in 2010 for $277 million.The deal includes an $800 million upfront cash payment, with up to $400 million in additional payments based on meeting 2025 fi","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4162":"人寿与健康保险","LU2346227817.USD":"BGF SUSTAINABLE GLOBAL INFRASTRUCTURE \"A2\" (USD) ACC","IE00BD4GTW91.USD":"LEGG MASON CLEARBRIDGEINFRASTRUCTURE VALUE \"A\" (USDHDG) INC","IE00BD4GTT62.SGD":"Legg Mason ClearBridge Infrastructure Value A SGD-H (mdis) plus","LU1989771016.USD":"东方汇理环球老龄化投资基金 A2 Acc","BK4588":"碎股","MET":"大都会人寿","LU1989772923.USD":"CPR Invest - Climate Action A2 Acc USD-H","PCG":"太平洋煤气电力","LU1989772840.SGD":"CPR Invest - Climate Action A2 Acc SGD-H","LU1496350502.SGD":"FRANKLIN DIVERSIFIED DYNAMIC \"A\" (SGDHDG) ACC","IE00BD4GTV84.USD":"LEGG MASON CLEARBRIDGEINFRASTRUCTURE VALUE \"A\" (USDHDG) ACC","BK4585":"ETF&股票定投概念","LU1291159041.SGD":"CPR Invest - Global Silver Age A2 Acc SGD-H","BK4081":"电力公用事业"},"translate_title":"大都会人寿以高达12亿美元收购PineBridge，扩大资产管理部门","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"MET":1,"PCG":1},"content_text":"(Reuters) -The asset management arm of U.S. insurer giant MetLife has agreed to buy PineBridge Investments from Hong Kong billionaire Richard Li's Pacific Century Group (PCG) in a deal valued at up to $1.2 billion, the companies said on Monday. \n The acquisition will enable MetLife to expand its asset management capabilities, reflecting an emerging trend among insurers looking to leverage their assets for developing tailored investment platforms. \n MetLife Investment Management's assets include public fixed income, private capital and real estate investments. As of Sept. 30, it managed $609.3 billion in total assets. \n Following the completion of the PineBridge acquisition, its assets under management (AUM) are expected to exceed $700 billion. \n The acquisition excludes PineBridge's private equity funds group and its joint venture in China. \n PineBridge was established in 1996 as AIG's investment advisory and asset management business and was acquired by Li's PCG in 2010 for $277 million. \n Reuters reported in February that PCG was seeking to sell its majority stake in the asset manager and had hired JPMorgan to run the process. \n The deal includes an $800 million upfront cash payment, with up to $400 million in additional payments based on meeting 2025 financial targets and a multi-year earnout structure, the New York-based company said. \n PCG said it will concentrate on enhancing its core strengths through the development of Huatai-PineBridge, a joint venture in China, and a \"uniquely positioned private fund business.\" \n \"With MetLife Investment Management's extensive platform and longstanding history, PineBridge is well-positioned to broaden its offerings and continue delivering value to clients worldwide,\" PCG said. \n (Reporting by Jaiveer Singh Shekhawat in Bengaluru and Selena Li in Hong Kong; Editing by Tasim Zahid)","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"corporation","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2493761004"}