MetLife Completes PineBridge Acquisition

Core Insights - MetLife Investment Management completed the acquisition of PineBridge Investments LLC from the Pacific Century Group, originally announced in December 2024 and valued at $1.2 billion [2][3] Group 1: Acquisition Details - The transaction involved $800 million in cash and two conditional payments of $200 million each [3] - The combined business will manage total assets of approximately $735 billion [3] - PineBridge's private equity funds group and its joint venture in China were excluded from the deal [4] Group 2: Strategic Implications - The acquisition enhances MetLife Investment Management's institutional strength and scale by leveraging PineBridge's global expertise [4] - This move aligns with MetLife Inc.'s New Frontier strategy, a five-year plan introduced in December 2024 [4] Group 3: Leadership and Future Outlook - Brian Funk will lead the combined entity, with a new senior leadership team announced [5][6] - MetLife's CFO John McCallion emphasized that the combined capabilities will drive future growth and success [5]