MetLife Investment Management, the institutional asset management business of MetLife Inc has entered into a definitive agreement to acquire London-headquartered Affirmative Investment Management (AIM), a specialist global environmental, social and corporate governance (ESG) impact fixed income investment manager.
As of June 30, 2022, AIM's assets under management were $1.01bn. The acquisition is subject to customary closing conditions, including regulatory approval.
The acquisition will advance MIM's ESG investment and reporting capabilities as it seeks to deliver client solutions and long-term risk adjusted returns, Metlife IM said in a statement on 30 August.
"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."
"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," said Stephen Fitzgerald, who co-founded AIM in 2014. "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."
AIM has won numerous ESG related industry awards, most recently Best ESG Investment Fund: Fixed Income at the ESG Investing Awards 2022, Impact Asset manager of the Year at the 2021 Australian Impact Investment Awards, and Impact Report of the Year (for investors) at the Environmental Finance Bond Awards in 2021.
MetLife Investment Management has over 150 years of investment experience and, as of June 30, 2022, had $590.9bn in total assets under management.
Founded in 1868, MetLife Inc has operations in more than 40 markets globally and holds leading positions in the United States, Japan, Latin America, Asia, Europe and the Middle East.
Affirmative Investment Management (AIM) is a specialist global environmental, social and corporate governance (ESG) impact fixed income investment manager with deep capabilities in impact investing, verification, reporting and engagement.
With offices in London and Melbourne, it was established in 2014, focusing on mobilizing mainstream capital to address ESG-related challenges. Its mission is to manage fixed income portfolios that generate positive environmental and social impact without compromising financial returns. AIM's experienced team is solely focused on investing in, and expanding, the impact bond market with a rigorous approach to building impact bond portfolios and generating returns.
