PineBridge Investments

American investment management firm

PineBridge Investments LLC

Headquarters at Park Avenue Tower

Formerly| AIG Investments
Company type| Subsidiary
Industry| Investment management
Founded| 1996; 29 years ago (1996)
Headquarters| Park Avenue Tower,

New York City

United States

Number of locations

| 24

Key people

* John L. Thornton (Non-Executive chairman)
* Gregory Ehret (CEO)

AUM| US$190.3 billion (December 2024)

Number of employees

| 700+ (2024)
Parent| MetLife
Website| www.pinebridge.com
Footnotes / references
[1]

PineBridge Investments LLC (also known as PineBridge) is an American asset management firm. It was previously the asset management division of American International Group (AIG) known as AIG Investments before being sold to the Pacific Century Group in 2010. It was subsequently renamed to PineBridge Investments.

## History

[edit]

The predecessor to PineBridge was originally formed in 1996 as AIG Investments, the asset management division of AIG to oversee the group's $75 billion assets.[2][3][4][5] This was done by consolidating AIG's various investment entities into a single platform and at the time of the entity's establishment, it had 300 employees.[2][3][4] Win Neuger who joined AIG in 1995 to lead and grow the division, was the CEO of AIG Investments as well CIO of AIG.[5][6][7]

In 2004, AIG Investments set up a joint venture with Huatai Securities forming AIG-Huatai Fund Management (now known as Huatai-PineBridge Fund Management).[8]

By 2008, the size of AIG's investments had reached $712 billion.[3]

Due to the 2008 financial crisis, AIG underwent significant financial difficulty and was close to bankruptcy resulting in the US government needing to spend $182 billion to bailouts.[3][4][9] As a result, AIG needed to sell off many of its assets to repay the government bailout.[4][10] It has been speculated that Neuger was significantly responsible for AIG's near collapse due to allowing the group to take on excessive risk related to mortgage-backed securities to obtain higher profits.[5][6][11]

In September 2009, Richard Li of the Hong Kong–based Pacific Century Group (PCG) announced he would acquire AIG Investments from AIG for $500 million.[4][5][7][10] In March 2010, the transaction was completed where Bridge Partners, a subsidiary of Pacific Century Group, acquired AIG Investments.[4][5][7][10] The firm now independent of AIG was renamed to PineBridge Investments.[5][12] Neuger who resigned from his posts at AIG, become CEO of the newly established entity.[4][5][6]

In 2012, only two years later, Neuger stepped down from his role of CEO at PineBridge.[6][7]

In 2020, PineBridge acquired Benson Elliot Capital, a UK based private equity real estate firm.[13] The new entity known as PineBridge Benson Elliot LLP then acquired housing developer, Sigma Capital Group in 2021.[14]

In December 2024, the institutional asset management arm of Metlife agreed to acquire PineBridge from PCG for $1.2 billion.[15]

## References

[edit]

1. ^ "Who We Are". www.pinebridge.com. Archived from the original on November 5, 2022. Retrieved November 5, 2022.
2. ^ a b "PineBridge Investments LLC". www.fitchratings.com. Archived from the original on November 5, 2022. Retrieved November 5, 2022.
3. ^ a b c d Moore, Heidi N. (September 16, 2008). "The AIG Crisis, By the Numbers". Wall Street Journal. ISSN 0099-9660. Archived from the original on November 5, 2022. Retrieved November 5, 2022.
4. ^ a b c d e f g "Richard Li buys AIG businesses for $500 million | Moves | AsianInvestor". July 28, 2021. Archived from the original on July 28, 2021. Retrieved November 5, 2022.
5. ^ a b c d e f g "PineBridge Investments Drives Effort to Rebrand AIG". Institutional Investor. Archived from the original on November 5, 2022. Retrieved November 5, 2022.
6. ^ a b c d Boyd, Roddy (January 22, 2015). "The Past Imperfect: Mr. Neuger and Mr. Fitzmaurice Would Like Your Money, Again". The Foundation for Financial Journalism. Archived from the original on November 5, 2022. Retrieved November 5, 2022.
7. ^ a b c d "PineBridge's Neuger To Step Down As CEO". Wall Street Journal. March 1, 2012. ISSN 0099-9660. Archived from the original on November 5, 2022. Retrieved November 5, 2022.
8. ^ "AIG to open fund management joint venture". www.chinadaily.com.cn. Archived from the original on November 5, 2022. Retrieved November 5, 2022.
9. ^ Root, Al. "The AIG Bailout Ended the Financial Crisis 10 Years Ago. Now, Analysts Like the Stock". www.barrons.com. Archived from the original on November 5, 2022. Retrieved November 5, 2022.
10. ^ a b c "Freed from taint of AIG, PineBridge ready to make its own name". Pensions & Investments. August 5, 2010. Archived from the original on November 5, 2022. Retrieved November 5, 2022.
11. ^ Comstock, Courtney. "Actually, It Might Be All Win Neuger's Fault AIG Collapsed, Not Goldman Sach's". Business Insider. Archived from the original on November 5, 2022. Retrieved November 5, 2022.
12. ^ "AIG rebrands asset management group PineBridge". www.professionalpensions.com. November 20, 2009. Archived from the original on November 5, 2022. Retrieved November 5, 2022.
13. ^ "PineBridge acquires Benson Elliot Capital for undisclosed sum". InternationalInvestment. October 14, 2020. Archived from the original on November 5, 2022. Retrieved November 5, 2022.
14. ^ Robinson, Jon (June 11, 2021). "Housing developer agrees £188.4m deal with private equity real estate giant". Business Live. Archived from the original on November 5, 2022. Retrieved November 5, 2022.
15. ^ Comtois, James (December 23, 2024). "MetLife Buys PineBridge in $1.2B Deal". Institutional Investor.

* v
* t
* e

American International Group

Key people|

* Cornelius Vander Starr (founder)
* Maurice R. Greenberg
* Martin J. Sullivan
* Ed Liddy
* Robert H. Benmosche
* Brian Duperreault (current president and CEO)
* Douglas Steenland (current non-executive chairman)

Board of directors|

* Brian Duperreault
* W. Don Cornwell
* John H. Fitzpatrick
* Robert S. Miller
* Suzanne Nora Johnson
* Douglas Steenland
* Ronald A. Rittenmeyer

Current subsidiaries|

* American General Life Insurance Company
* American Home Assurance Company
* Fuji Fire and Marine Insurance Company
* Lexington Insurance Company
* National Union Fire Insurance Company of Pittsburgh, PA
* The United States Life Insurance Company in the City of New York
* The Variable Annuity Life Insurance Company (VALIC)

Former subsidiaries|

* Chartis Insurance]
* ALICO
* American General Finance (AGF)
* Philam Life (now AIA Philippines)
* PineBridge Investments
* Travel Guard

Related|

* Corebridge Financial (spinoff)

* v
* t
* e

MetLife

Facilities|

* Long Island Solar Farm
* MetLife Building
* Metropolitan Life Insurance Company Hall of Records
* Metropolitan Life North Building
* Metropolitan Life Insurance Company Tower
* Webberville Solar Farm

Related|

* MetLife Inc. v. Financial Stability Oversight Council
* New England Mutual Life Insurance Co. v. Woodworth
* PineBridge Investments

*[v]: View this template
*[t]: Discuss this template
*[e]: Edit this template