MetLife Investment Management (MIM), the institutional asset management business of MetLife, Inc., with a location in Whippany, disclosed its acquisition of PineBridge Investments. The combined business manages $734.7 billion of assets, serving clients around the world.
The acquisition brings together MIM’s institutional strength and scale with PineBridge’s global footprint and deep specialization to position MIM as a top-tier diversified global asset manager.
“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.”
MIM also announced its new senior leadership team, drawing top talent from both organizations. Brian Funk, President of MIM, will lead the combined business post-close.
“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.”
In December 2024, MIM announced its agreement to acquire PineBridge from the Pacific Century Group. More than half of the client assets acquired in the transaction are held by investors outside of the U.S., with one-third in Asia.
The acquisition excludes PineBridge’s private equity funds group business and its joint venture in China.