
MetLife expands asset management arm with up to $1.2 billion deal for PineBridge
(Reuters) -The asset management arm of U.S. insurer giant MetLife has agreed to buy PineBridge Investments from Hong Kong billionaire Richard Li’s Pacific Century Group (PCG) in a deal valued at up to $1.2 billion, the companies said on Monday. The acquisition will enable MetLife to expand its asset management capabilities, reflecting an emerging trend…