MetLife Investment Management completed in December 2025 its acquisition of PineBridge Investments LLC from the Pacific Century Group.
Originally announced in December 2024, the transaction was then valued at $1.2 billion—$800 million in cash, with two separate conditional payments of $200 million.
The combined business, which manages total assets of about $735 billion, will be led by MetLife Investment Management President Brian Funk. PineBridge CEO Gregory Ehret has left the firm.
The acquisition reinforces MIM’s institutional strength and scale by leveraging PineBridge’s global footprint and expertise. It also aligns with MetLife Inc.’s New Frontier strategy, a five-year plan unveiled in December 2024.
More than half of the client assets acquired in the transaction are held by investors outside of the U.S., with one-third in Asia, but the deal excludes PineBridge’s private equity funds group business and its joint venture in China.
John McCallion, MetLife’s chief financial officer and the head of MetLife Investment Management, said in a statement that the capabilities of the combined firms will drive future growth and success.
“Together, we are building a firm designed to meet today’s market challenges and capture tomorrow’s investment opportunities,” McCallion said in the statement.
MIM also announced its new senior leadership team, with Funk to lead the combined entity upon closing the transaction.
“Our leadership team reflects the best of both firms,” Funk said in a statement. “Together, our expertise and shared vision enable us to generate greater long-term value for our clients.
A version of this article originally appeared in our sister publication, Financial Standard, which, like CIO, is owned by ISS STOXX.Tags: Asset Management, Brian Funk, Mergers and Acquisitions, MetLife Investment Management