MetLife Investment Management to acquire PineBridge Investments from Pacific Century Group for $1.2bn.

MetLife Investment Management, the institutional asset management business of MetLife, agreed to acquire PineBridge Investments, a global asset manager with approximately $100bn in assets under management, from Pacific Century Group, a private equity firm, for $1.2bn. "The acquisition of PineBridge Investments furthers our ambition to accelerate growth in asset management. MetLife Investment Management is on a good path to grow its business organically, supplemented by targeted, complementary inorganic growth," Michel Khalaf, MetLife President and CEO.