On December 23, 2024, MetLife Investment Management announced that it had entered into a definitive agreement to acquire PineBridge Investments.
MetLife Investment Management (“MetLife”) announced on December 23, 2024, that it has entered into a definitive agreement to acquire PineBridge Investments (“PineBridge”). The transaction is comprised of $800 million in cash at closing, $200 million subject to achieving certain 2025 financial metrics and $200 million subject to a multi-year earnout. The acquisition excludes PineBridge’s private equity funds group business and its joint venture in China. The transaction is targeted to close in 2025. Further terms of the transaction were not disclosed.
MetLife (NYSE: MET), based in Whippany, New Jersey, is the institutional asset management division of MetLife, Inc. As of September 30, 2024, MetLife had approximately $609.3 billion in total assets. BofA Securities is serving as financial advisor to MetLife.
PineBridge, based in New York, is a private global asset manager offering asset and risk management, investment advisory and fund monitoring services. As of September 30, 2024, PineBridge had approximately $100 billion in assets under management.
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