Seller Details:
Mesirow is an independent, employee-owned financial services firm founded in 1937. Headquartered in Chicago, with offices around the world, Mesirow has capabilities spanning Global Investment Management, Wealth Management, Fiduciary Solutions and Capital Markets/Investment Banking. Mesirow has over $300 billion in total assets under supervision.
Buyer Details:
MetLife, Inc. is one of the world’s leading financial services companies, providing insurance, annuities, employee benefits and asset management to individual and institutional customers. Founded in 1868, MetLife has operations in more than 40 markets globally. MIM is a global public fixed income, private capital and real estate investment manager with over 150 years of investment experience. MIM had $609.3 billion in total AUM as of September 30, 2024.
Transaction Summary:
MIM is acquiring the high yield and bank loan, strategic fixed income and small-cap equity teams and certain related investment products. About $6 billion of assets managed by the acquired teams will transfer to MIM. The acquisition is consistent with MetLife’s New Frontier strategy to accelerate growth in asset management; MIM’s efforts to expand offerings and channels and adding higher yield capabilities; and Mesirow’s continuing focus on expanding its differentiated alternative investment management capabilities.
The acquisition will advance the development of MIM’s leveraged finance platform, adding opportunistic high yield and bank loan strategies with risk-return profiles that complement MIM’s current offering. The acquired teams consist of about 20 investment professionals, all of whom are expected to join MIM on completion of the transaction.