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.