MetLife Investment Management plans to acquire Affirmative Investment Management, a fixed-income manager specializing in global environmental, social and corporate governance impact.
AIM, with $1 billion in assets under management as of June 30, was founded in 2014 and has "deep capabilities in impact investing, verification, reporting and engagement," MIM said in a news release Monday.
Terms of the deal, which is expected to close in the first quarter of 2023, were not disclosed, an MIM spokesman said in an email. AIM is based in London, the spokesman added.
"By combining AIM's expertise with MIM's commitment to sustainable investing, we will be even better positioned to provide comprehensive insight and counsel to clients and consultants on ESG considerations," said Steven J. Goulart, president of MIM and executive vice president and chief investment officer for MetLife Inc., in the news release. "MIM will maintain its fundamental investment processes, and AIM brings us additional capabilities to evaluate sustainability and risk considerations across our core competencies in public fixed income, private fixed income and real estate."
Stephen Fitzgerald, managing partner and co-founder of AIM, said in the release that "upon our planned integration with MIM's investment teams, we believe that we can deliver differentiated insights and analysis to MIM's growing roster of global clients."
The proposed deal is subject to regulatory approval, among other closing conditions.
MIM, the institutional asset management business of MetLife Inc., had $591 billion in total assets under management as of June 30.
