Pacific Century Buys Money Management Shop PineBridge Investments

Mar 29 2010 | 9:19am ET

Asian-based investment firm Pacific Century Group has bought New York-headquartered asset management firm PineBridge Investments.

PineBridge, which was purchased from American International Group for an undisclosed sum, has $87.3 billion in assets under management. The firm employs equity, fixed income and alternative investments strategies.

According to PineBridge, it will remain headquartered in New York and Win Neuger, chief executive officer, and the current management team will continue to lead the company. PineBridge professionals will also be minority owners and investors in the firm.

"We are very excited to partner with Pacific Century Group and begin a new chapter in our firm's history,” said Neuger. “PCG's extensive network in Asia complements our existing global reach, and their strong financial position benefits our future plans for growth."

"PCG's financial commitment and global relationships are valuable assets for our global private equity and hedge fund teams and limited partners,” said Robert Thompson, global head of alternative investments. “Their support will be a powerful addition to our global alternatives program."

In Depth

Financial Industry Blockchain Consortium R3 To Open-Source Platform Code

Oct 20 2016 | 9:03pm ET

Bitcoin's blockchain technology has spawned a flurry of activity among fintech startups...


U.S. Trust's Beard: The Rapid Growth of the Art Lending Industry

Oct 7 2016 | 10:55pm ET

Alternative investment managers have emerged as some of the most significant art...

Guest Contributor

Hedge Fund Marketing – Tips for Your Initial Sales Meeting

Sep 29 2016 | 5:46pm ET

There are two main goals a hedge fund should have for an initial in-person sales...