MetLife Inc. agreed to buy PineBridge Investments’ assets outside of China from Hong Kong billionaire Richard Li’s Pacific Century Group as part of the US insurer’s push to grow in asset management.
MetLife Investment Management, the institutional asset manager of the New York-based insurance company, will pay $800 million for closely held PineBridge, which manages about $100 billion in assets, according to a Monday statement that confirmed an earlier Bloomberg News report. MetLife will also pay $200 million subject to achieving certain financial goals in 2025, and an additional $200 million subject to a multiyear earnout.
MetLife ...
