MetLife IM Acquires $6B in Assets from Mesirow 

MetLife Investment Management (MIM), the institutional asset management arm of MetLife, Inc., has acquired three investment teams and assets from financial services firm Mesirow, encompassing high yield and bank loan, strategic fixed income, and small-cap equity teams. The transaction will transfer approximately $6 billion of managed assets to MIM. 

The acquisition aligns with MetLife’s New Frontier strategy to accelerate growth in asset management and expands MIM’s offerings and channels with higher yield capabilities. About 20 investment professionals from the acquired teams are expected to join MIM.  

The move will enhance MIM’s leveraged finance platform, adding opportunistic high yield and bank loan strategies that complement their current offering, including strategies from the recently announced PineBridge Investments acquisition.  

“Going forward, Mesirow will continue to focus on growing our alternatives capabilities and core wealth management, fiduciary solutions, and capital markets/investment banking offerings, which have over $300 billion in total assets under supervision,” said Natalie Brown, Mesirow CEO. 

The news follows the announcement earlier this week by Mesirow that the firm has acquired Bastion Management, a Stamford, CT-based asset-backed specialty finance lender, in a move that strengthens its alternative investment offerings. 

Third Street Partners served as advisor to MetLife in the transaction.