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MetLife signs deal to acquire asset manager PineBridge

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The deal consideration includes $800m cash at closing, and another $400m contingent on future financial and earnout targets.
MetLife Inc. has entered into an agreement to acquire PineBridge Investments, an asset management firm with approximately $151 billion in assets under management as of the end of 2023. This acquisition aims to bolster MetLife's capabilities in investment management, enhancing its offerings in both public and private markets. The deal, which is expected to close in the second half of 2024, will see PineBridge continue to operate under its current brand while integrating with MetLife's global investment management operations. The transaction is subject to regulatory approvals and customary closing conditions. This move is part of MetLife's strategy to expand its investment management footprint and provide more diversified investment solutions to its clients.

Read the Full MSN Article at:
[ https://www.msn.com/en-us/money/mergers-and-acquisitions/metlife-signs-deal-to-acquire-asset-manager-pinebridge/ar-AA1wr4XZ ]


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