A&O Shearman represents MetLife Investment Management in up to USD1.2 billion acquisition of PineBridge Investments

The transaction is comprised of USD800 million in cash at closing, USD200 million subject to achieving certain 2025 financial metrics and USD200 million subject to a multi-year earnout.

Founded in 1996 as the investment advisory and asset management business of AIG, PineBridge was acquired in 2010 by Pacific Century Group. Headquartered in Whippany, New Jersey, MetLife Investment Management is a global public fixed income, private capital and real estate investment manager serving institutional investors worldwide. The transaction was announced on Dec. 23, 2024, in a press release, and is targeted to close in 2025.

“Our work with MetLife is a demonstration of the strength and skills of the firm’s truly global platform,” said M&A partner Stephen Besen. “We are very proud to have worked with MetLife Investment Management on this exciting cross-border transaction.”

The A&O Shearman team was led by M&A partners Stephen Besen and Rory O’Halloran, and included senior associate Stephanie Ference, associates Yuwei Liu and Ardalan Khalafi and law clerk Roy Li, and counsel Andreas Piepers, Compensation, Employment & Governance partner John Cannon, counsel Matthew Behrens, associates Alexandra Sentner and Sydney Phipps, Tax partner Larry Crouch, and counsel Matthew Brown, Financial Service Regulatory partners Jodi Norman, Susan Gault Brown and Hilary Sunghee Seo, senior associate Jamie Turner, associates Will Tunstall Prince, Austin Law and Joshua Kim, Funds & Asset Management partner Philip Baynes, associate Pranav Sethi, Daniel Lee and Moni Owoade, Global Financial Markets partner James Smallwood, senior associates Peter West and Adrian Kwok, IP Transactions partner Keren Livneh, associates Sophie Zander and Will Jackson, Privacy partner Helen Christakos and associate Sonya Aggarwal, Environmental and Sanctions partner Ken Rivlin, counsel Kuang Chiang, associate Jacob Ely, Antitrust partner Puja Patel, associates Eun Joo Hwang and Michael Smith, Litigation & Investigations partner Grace Lee, Hong Kong-based partner David Norman and Singapore-based partner Shuhui Kwok.