MetLife Investment Management Seals Deal for PineBridge Investments

MetLife Investment Management Finalizes Acquisition of PineBridge Investments, Bolstering Global Asset Management Capabilities

MetLife Investment Management (MIM), the institutional asset management arm of MetLife, Inc., announced the successful closing of its acquisition of PineBridge Investments. This strategic move, aimed at accelerating MetLife’s growth in asset management as outlined in its “New Frontier” strategy, unites MIM’s established institutional strength with PineBridge’s specialized global expertise. The combined entity now manages approximately $734.7 billion in assets, serving a diverse international clientele.

The integration is designed to position MIM as a formidable diversified global asset manager, capable of navigating current market complexities and capitalizing on future investment opportunities. “We are constructing a firm poised to address today’s market challenges and seize tomorrow’s investment prospects,” stated John McCallion, Chief Financial Officer of MetLife and Head of MIM. “We are confident that the synergy of these two organizations will propel our growth ambitions in alignment with our New Frontier strategy.”

A new senior leadership team, drawn from both MIM and PineBridge, has been appointed to steer the combined operations. Brian Funk, who previously led MIM, will now head the integrated business. This leadership transition underscores a commitment to leveraging the best talent from both organizations. “Our leadership team embodies the strengths of both firms,” said Funk. “Together, our collective expertise and shared vision empower us to deliver enhanced long-term value to our clients.”

The acquisition, initially announced in December 2024, saw MIM agree to purchase PineBridge from Pacific Century Group. A significant portion of the acquired client assets, over half, originate from investors outside the United States, with a substantial third concentrated in Asia. Notably, the transaction excludes PineBridge’s private equity funds group and its joint venture in China, indicating a focused approach to integrating core asset management competencies.

From a strategic perspective, this acquisition allows MetLife to significantly expand its global reach and deepen its specialized investment capabilities. The addition of PineBridge’s expertise in areas like emerging market debt and alternative investments complements MIM’s existing strengths in fixed income and real estate. This diversification is crucial in today’s evolving financial landscape, where clients increasingly seek managers with a broad spectrum of specialized skills and a global perspective to navigate market volatility and uncover unique alpha-generating opportunities. The increased scale also provides greater operational efficiencies and a stronger competitive position against larger, established global asset managers.

**About MetLife Investment Management**

MetLife Investment Management, as the institutional asset management division of MetLife, Inc., offers bespoke investment management solutions to institutional investors worldwide. With a heritage spanning over 150 years, MIM possesses extensive global expertise across multi-asset strategies, equities, public and private fixed income, real estate, alternatives, and insurance solutions. The firm serves a wide array of clients, including public and private pension plans, insurance companies, endowments, and other institutional entities, providing tailored strategies aimed at achieving long-term investment objectives and risk-adjusted returns. As of September 30, 2025, MetLife Investment Management reported pro forma combined total assets under management of $734.7 billion.

**About MetLife**

MetLife, Inc. stands as a leading global financial services company, providing insurance, annuities, employee benefits, and asset management services designed to foster confidence and security for individual and institutional clients. Established in 1868, MetLife operates in over 40 markets globally, holding prominent positions in the United States, Asia, Latin America, Europe, and the Middle East.

**Forward-Looking Statements**

Certain statements made in this release may constitute forward-looking statements. These statements, often characterized by words such as “confident,” “enable,” “furthers,” “position,” “seek,” and “will,” are based on assumptions and expectations that involve inherent risks and uncertainties. These risks and uncertainties are further detailed in MetLife, Inc.’s filings with the U.S. Securities and Exchange Commission, including its “Risk Factors” section. Consequently, MetLife’s actual future results may differ materially from those projected in these forward-looking statements. MetLife undertakes no obligation to publicly update or revise any such statements.

**Endnotes**

¹ Represents estimated fair value. This figure reflects the pro forma combined assets managed or advised by MIM and PineBridge, assuming the acquisition had been completed as of September 30, 2025. The pro forma amount is presented for illustrative purposes and does not represent actual combined financial results for the period.