FUNDRAISING NEWS | January 09, 2025
Metlife Investment Management is acquiring a trio of investment teams and related products representing $6B in assets from Mesirow.
The Mesirow teams, composed of 20 professionals, manage portfolios of high yield and bank loan, strategic fixed income, and small-cap equity investments. Metlife said the deal is in alignment with its New Frontier strategy where it seeks to expand its asset management offerings, especially in higher yield services.
In fact, the deal is illustrative of the firms’ differing strategies, as it follows Mesirow's own announcement that it acquired asset-backed private credit manager Bastion Management, as reported by Dakota on January 6, in a bid to expand its capabilities and alternatives offerings for institutional and high-net-worth investors. In a statement announcing the deal, Mesirow CEO Natalie Brown said MLIM “will deliver scaled resources well suited to these three traditional investment strategies,” while “Mesirow will continue to focus on growing our alternatives capabilities…”
Third Street Partners advised Metlife on the transaction. As of September 30, 2024, the global asset manager reported $609.3B in total AUM.
