Pacific Century Group, an Asia-based private investment firm, has acquired PineBridge Investments from American International Group.
PineBridge operates as a multi-strategy investment manager in 31 countries with USD87.3bn in assets under management as of 31 December 2009.
The firm focuses on listed equity, fixed income and alternative investments strategies.
PineBridge will continue to manage assets for hundreds of global investors and limited partners, including AIG, and will remain headquartered in New York.
Chief executive Win J. Neuger and the current management team will continue to lead the company.
PineBridge professionals will be meaningful minority owners and investors in the firm.
Neuger says: “We are very excited to partner with Pacific Century Group and begin a new chapter in our firm’s history. PCG’s extensive network in Asia complements our existing global reach, and their strong financial position benefits our future plans for growth. We have always endeavoured to serve as strategic partners with our clients, with closely aligned interests. Our new independent structure allows us to realize that vision to an even greater extent.”
