Lightyear Capital and PSP Investments to Acquire AIG Advisor Group

January 29, 2016

On January 26, 2016, Lightyear Capital LLC and the Public Sector Pension Investment Board agreed to acquire AIG Advisor Group, Inc. from American International Group, Inc. (NYSE:AIG).

AIG Advisor Group, Inc. (“AAG”) is a network of U.S brokers with more than 5,200 independent advisors and more than 800 full-time employees. A majority of the seats on the board of AAG will be controlled by investment funds affiliated with Lightyear Capital LLC (“Lightyear”) and Public Sector Pension Investment Board (“PSP Investments”). The Chief Executive Officer of AAG, Erica McGinnis, will continue in her role. At the closing of the transaction, Valerie Brown, former Chief Executive Officer of Cetera Financial Group, will serve as Executive Chairman of the AAG Board of Directors. Terms of the transaction were not disclosed. This transaction is subject to customary regulatory approvals and is expected to close in the second quarter of 2016.

Lightyear is a New York-based private equity firm that makes primarily control investments, and has raised over $2.5 billion of capital.

PSP Investments is a Canadian pension investment manager with $112.0 billion of net assets under management as of March 31, 2015.

To read the press release: please click here.


Investment Manager M&A, Transactions