M and A
Deals Of The Day: The Latest In Wealth Management M&A – MetLife Investment Management, PineBridge
The latest mergers, acquisitions and other corporate actions in the wealth management sector.
MetLife Investment Management,
Pacific Century Group, PineBridge Investments
MetLife
Investment Management, the institutional asset management
business of New York-listed MetLife, has completed its purchase
of PineBridge Investments from the Pacific Century
Group.
The combined business manages $734.7 billion of assets, serving clients around the world. The deal, initially announced in December 2024, was valued at up to $1.2 billion.
The acquisition brings together MIM’s institutional strength and scale with PineBridge’s global footprint and specialisation, MetLife said in a statement at the end of 2025. More than half of the client assets acquired in the transaction are held by investors outside the US, with one-third in Asia. The acquisition excludes PineBridge’s private equity funds group business and its joint venture in China.
MIM also unveiled a new senior leadership team, drawing talent from both organisations. Brian Funk, president of MIM, will lead the combined business.
“Together, we are building a firm designed to meet today’s market challenges and capture tomorrow’s investment opportunities,” John McCallion, chief financial officer of MetLife and head of MIM said.