A London-based impact investor has been acquired by the asset management business of New York-listed giant MetLife.
MetLife Investment Management, the institutional asset management business of MetLife, will expand the sustainable investing solutions it offers its clients through the deal for Affirmative Investment Management.
AIM is a specialist global environmental, social and corporate governance impact fixed income investment manager with deep capabilities in impact investing, verification, reporting and engagement. As of June 30th 2022, AIM’s assets under management were $1.01 billion.
The acquisition is subject to customary closing conditions, including regulatory approval.
“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.
“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, who co-founded AIM in 2014, added: “We are pleased to be able to join a world-class institutional investment firm in MIM and continue our mission of managing high-performing portfolios that consider positive environmental and social impact.
“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.”