MetLife Investment Management Acquires Mesirow Teams, Adding $6B in Strategic Assets

MetLife Investment Management Acquires Mesirow Teams, Adding $6B in Strategic Assets





MetLife Investment Management (MIM) has announced a definitive agreement to acquire three investment teams and assets from Mesirow, encompassing high yield and bank loan, strategic fixed income, and small-cap equity teams. The transaction will transfer approximately $6 billion of managed assets to MIM, subject to approvals and consents.

The acquisition aligns with MetLife’s New Frontier strategy to accelerate growth in asset management and expands MIM’s offerings and channels with higher yield capabilities. About 20 investment professionals from the acquired teams are expected to join MIM. The move will enhance MIM’s leveraged finance platform, adding opportunistic high yield and bank loan strategies that complement their current offering, including strategies from the recently announced PineBridge Investments acquisition.

MIM, a top 25 institutional investment manager globally, currently manages $609.3 billion in total assets as of September 30, 2024.

MetLife Investment Management (MIM) ha annunciato un accordo definitivo per acquisire tre team di investimento e asset da Mesirow, che comprendono team di high yield e prestiti bancari, reddito fisso strategico e piccoli capitali azionari. La transazione trasferirà circa 6 miliardi di dollari di asset gestiti a MIM, soggetta ad approvazioni e consensi.

L’acquisizione è in linea con la strategia New Frontier di MetLife per accelerare la crescita nella gestione degli asset e amplia le offerte e i canali di MIM con capacità di rendimento più elevate. Circa 20 professionisti degli investimenti dei team acquisiti sono previsti per unirsi a MIM. Questa mossa migliorerà la piattaforma di finanziamento con leva di MIM, aggiungendo strategie opportunistiche di high yield e prestiti bancari che completano la loro attuale offerta, incluse le strategie dell’acquisizione recentemente annunciata di PineBridge Investments.

MIM, uno dei primi 25 gestori di investimenti istituzionali a livello globale, gestisce attualmente 609,3 miliardi di dollari in asset totali a partire dal 30 settembre 2024.

MetLife Investment Management (MIM) ha anunciado un acuerdo definitivo para adquirir tres equipos de inversión y activos de Mesirow, que incluyen equipos de alto rendimiento y préstamos bancarios, renta fija estratégica y acciones de pequeña capitalización. La transacción transferirá aproximadamente 6 mil millones de dólares de activos gestionados a MIM, sujeto a aprobaciones y consentimientos.

La adquisición está alineada con la estrategia New Frontier de MetLife para acelerar el crecimiento en la gestión de activos y expande las ofertas y canales de MIM con capacidades de mayor rendimiento. Se espera que alrededor de 20 profesionales de inversión de los equipos adquiridos se unan a MIM. Este movimiento mejorará la plataforma de financiamiento apalancado de MIM, añadiendo estrategias oportunistas de alto rendimiento y préstamos bancarios que complementan su oferta actual, incluidas las estrategias de la adquisición recientemente anunciada de PineBridge Investments.

MIM, uno de los 25 principales gestores de inversiones institucionales a nivel global, gestiona actualmente 609,3 mil millones de dólares en activos totales a partir del 30 de septiembre de 2024.

메트라이프 투자 관리 (MIM)는 메지로우로부터 고수익 및 은행 대출, 전략적 고정 수익, 소형주 주식 팀을 포함한 세 개의 투자 팀 및 자산을 인수하기 위한 확정 계약을 발표했습니다. 이 거래는 MIM에 약 60억 달러의 관리 자산을 이전할 예정이며, 승인 및 동의가 필요합니다.

이 인수는 메트라이프의 뉴 프론티어 전략에 부합하며 자산 관리 성장을 가속화하고, MIM의 제공과 채널을 더 높은 수익 능력으로 확장합니다. 인수된 팀의 약 20명의 투자 전문가가 MIM에 합류할 것으로 예상됩니다. 이번 조치는 현재의 제공을 보완하는 기회주의적인 고수익 및 은행 대출 전략을 추가하여 MIM의 레버리지 금융 플랫폼을 강화할 것입니다.

MIM은 전 세계적으로 상위 25개의 기관 투자 관리자로, 2024년 9월 30일 기준으로 6093억 달러의 총 자산을 관리하고 있습니다.

MetLife Investment Management (MIM) a annoncé un accord définitif pour acquérir trois équipes d’investissement et des actifs de Mesirow, englobant les équipes de haut rendement, de prêts bancaires, de revenus fixes stratégiques et d’actions à petite capitalisation. La transaction transférera environ 6 milliards de dollars d’actifs sous gestion à MIM, sous réserve d’approbations et de consentements.

L’acquisition est alignée avec la stratégie New Frontier de MetLife pour accélérer la croissance dans la gestion d’actifs et élargit les offres et canaux de MIM avec des capacités de rendement plus élevées. Environ 20 professionnels des investissements des équipes acquises devraient rejoindre MIM. Ce mouvement améliorera la plateforme de financement à effet de levier de MIM, ajoutant des stratégies opportunistes de haut rendement et de prêts bancaires qui complètent leur offre actuelle, y compris les stratégies de l’acquisition récemment annoncée de PineBridge Investments.

MIM, l’un des 25 principaux gestionnaires d’investissements institutionnels au niveau mondial, gère actuellement 609,3 milliards de dollars en actifs totaux au 30 septembre 2024.

MetLife Investment Management (MIM) hat eine endgültige Vereinbarung zur Akquisition von drei Investment-Teams und Vermögenswerten von Mesirow angekündigt, einschließlich High-Yield und Bankkrediten, strategischen Anleihen und Small-Cap-Aktienteams. Die Transaktion wird etwa 6 Milliarden Dollar an verwalteten Vermögenswerten auf MIM übertragen, vorbehaltlich von Genehmigungen und Zustimmungen.

Die Übernahme steht im Einklang mit MetLifes New Frontier-Strategie zur Beschleunigung des Wachstums im Asset Management und erweitert MIMs Angebote und Kanäle mit höheren Renditemöglichkeiten. Etwa 20 Investment-Profis aus den übernommenen Teams werden voraussichtlich zu MIM stoßen. Dieser Schritt wird MIMs Plattform für gehebelte Finanzierungen verbessern und opportunistische High-Yield- und Bankkreditstrategien hinzufügen, die das derzeitige Angebot ergänzen, einschließlich der Strategien aus der kürzlich angekündigten Akquisition von PineBridge Investments.

MIM, ein führender institutioneller Vermögensverwalter, verwaltet derzeit 609,3 Milliarden Dollar an Gesamtkapitalständen (Stand: 30. September 2024).

Positive


  • Acquisition adds $6 billion in assets under management

  • Expands capabilities with high yield and bank loan strategies

  • Adds 20 experienced investment professionals to the team

  • Strengthens leveraged finance platform

  • Aligns with company’s growth strategy in asset management

Insights


MetLife Investment Management’s strategic acquisition of Mesirow’s teams represents a calculated move to strengthen its asset management capabilities. The $6 billion AUM addition, while modest compared to MIM’s $609.3 billion total AUM, is particularly valuable for its specialized expertise in high-yield and leveraged finance – areas with higher fee potential than traditional fixed income.

The acquisition’s true value lies in the integration of 20 seasoned investment professionals and their established track records in high-yield, bank loans and small-cap equity strategies. These capabilities complement MIM’s recent PineBridge acquisition, creating a more comprehensive leveraged finance platform that could drive higher management fees and potentially boost MetLife’s asset management revenue stream.

This transaction aligns perfectly with MetLife’s New Frontier strategy, focusing on higher-margin asset management growth versus traditional insurance business. The move could help diversify revenue streams and reduce dependence on interest rate-sensitive insurance products.

The strategic significance of this acquisition extends beyond the immediate AUM addition. By acquiring specialized teams in high yield and bank loans, MIM is positioning itself to capitalize on the current high-interest rate environment where these asset classes typically outperform. The small-cap equity capability addition is particularly timely, as small-caps are historically strong performers during economic recovery phases.

The integration of Mesirow’s fundamental, bottom-up investment approach with MIM’s extensive distribution network creates a powerful synergy. This combination could accelerate organic growth through cross-selling opportunities to MIM’s institutional client base, potentially leading to significant AUM expansion beyond the initial $6 billion.

For retail investors, this signals MIM’s evolution into a more comprehensive asset manager, potentially leading to enhanced investment products and solutions in the future. The focus on opportunistic high-yield strategies could result in new investment vehicles that offer attractive risk-adjusted returns in the current market environment.












Acquisition includes high yield, strategic fixed income and small-cap equity teams

WHIPPANY, N.J.–(BUSINESS WIRE)–
MetLife Investment Management (MIM), the institutional asset management business of MetLife, Inc. (NYSE: MET), today announced that it has reached a definitive agreement to acquire three investment teams and assets managed by Mesirow, an independent, employee-owned financial services firm. MIM is acquiring the high yield and bank loan, strategic fixed income and small-cap equity teams and certain related investment products.

Under the terms of the transaction, about $6 billion of assets managed by the acquired teams will transfer to MIM, subject to customary approvals and consents. The acquisition is consistent with MetLife’s New Frontier strategy to accelerate growth in asset management and MIM’s efforts to expand offerings and channels and adding higher yield capabilities. MIM is a top 25 institutional investment manager globally by assets under management.1

The acquisition will advance the development of MIM’s leveraged finance platform, adding opportunistic high yield and bank loan strategies with risk-return profiles that complement MIM’s current offering, including the strategies anticipated to be added through the recently announced acquisition of PineBridge Investments. The acquired teams consist of about 20 investment professionals, all of whom are expected to join MIM on completion of the transaction.

“Building businesses with investment talent is a core belief,” said MIM President Jude Driscoll. “As fundamental, bottom-up investors, these investment teams are excellent strategic fits and bring seasoned talent to MIM. By leveraging the power of the MIM platform, we believe we can accelerate growth in these strategies through investment performance and the breadth of our distribution capabilities.”

“We are confident that MetLife will deliver scaled resources well suited to these three traditional investment strategies,” said Natalie Brown, Mesirow Chief Executive Officer. “Going forward, Mesirow will continue to focus on growing our alternatives capabilities and core Wealth Management, Fiduciary Solutions, and Capital Markets/Investment Banking offerings, which have over $300 billion in total assets under supervision.”

Third Street Partners served as advisor to MetLife in this transaction.

About MetLife

MetLife, Inc. (NYSE: MET), through its subsidiaries and affiliates (“MetLife”), is one of the world’s leading financial services companies, providing insurance, annuities, employee benefits and asset management to help individual and institutional customers build a more confident future. Founded in 1868, MetLife has operations in more than 40 markets globally and holds leading positions in the United States, Japan, Latin America, Asia, Europe and the Middle East. For more information, visit www.metlife.com.

About MetLife Investment Management

MetLife Investment Management, the institutional asset management business of MetLife, Inc. (NYSE: MET), is a global public fixed income, private capital and real estate investment manager providing tailored investment solutions to institutional investors worldwide. MetLife Investment Management provides public and private pension plans, insurance companies, endowments, funds and other institutional clients with a range of bespoke investment and financing solutions that seek to meet a range of long-term investment objectives and risk-adjusted returns over time. MetLife Investment Management has over 150 years of investment experience and as of September 30, 2024, had $609.3 billion in total assets under management. For more information, see the total assets under management fact sheet for the quarter ended September 30, 2024 available on MetLife’s Investor Relations webpage (https://investor.metlife.com).

Forward-Looking Statements

The forward-looking statements in this news release, using words such as “continue,” “look forward,” “seek,” “well-positioned” and “will” are based on assumptions and expectations that involve risks and uncertainties, including the “Risk Factors” MetLife, Inc. describes in its U.S. Securities and Exchange Commission filings. MetLife’s future results could differ, and it does not undertake any obligation to publicly correct or update any of these statements.

Endnotes

1Pensions & Investments Managers Ranked by Total Worldwide Institutional Assets Under Management as of 12/31/23

Media

Dave Franecki

973-264-7465

[email protected]

Investors

John Hall

212-578-7888

[email protected]

Source: MetLife Investment Management








FAQ



How much in assets will MET acquire from Mesirow?


MetLife Investment Management will acquire approximately $6 billion in assets under management from Mesirow.


What investment teams is MetLife (MET) acquiring from Mesirow?


MetLife is acquiring three teams: high yield and bank loan, strategic fixed income, and small-cap equity teams.


How many investment professionals will join MIM through the Mesirow acquisition?


Approximately 20 investment professionals from the acquired teams are expected to join MetLife Investment Management.


What is MIM’s total assets under management as of September 2024?


MetLife Investment Management had $609.3 billion in total assets under management as of September 30, 2024.


How does the Mesirow acquisition align with MET’s strategy?


The acquisition aligns with MetLife’s New Frontier strategy to accelerate growth in asset management and expand MIM’s offerings and channels with higher yield capabilities.





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