PineBridge Investments
| Company type | Private |
|---|---|
| Industry | Asset management |
| Predecessor | AIG Investments |
| Founded | 1996 |
| Founder | American International Group (AIG) |
| Headquarters | United States |
Area served | Global |
Key people | Win Neuger (former CEO), Richard Li (Pacific Century Group) |
| Products | Asset management, private equity real estate |
| Owner | Pacific Century Group (until 2024), MetLife (from 2024) |
PineBridge Investments LLC—commonly referred to as PineBridge—is a United States-based asset management company. Initially operating as AIG Investments, the asset management branch of American International Group (AIG), it was divested to the Pacific Century Group in 2010 and subsequently rebranded as PineBridge Investments.
History
The firm began in 1996 under the name AIG Investments, consolidating various investment units within AIG to oversee approximately $75 billion in assets with a workforce of 300 employees. Win Neuger, who joined AIG in 1995, held the positions of CEO and Chief Investment Officer at AIG Investments.
In 2004, AIG Investments partnered with Huatai Securities to establish a joint venture named AIG-Huatai Fund Management, which is now known as Huatai-PineBridge Fund Management.
By 2008, the assets managed by AIG had expanded significantly, reaching $712 billion.
The financial turmoil of 2008 heavily affected AIG, resulting in a $182 billion bailout provided by the U.S. government and necessitating the sale of assets to repay this assistance. Win Neuger has been associated with the crisis due to the firm's exposure to risks from mortgage-backed securities.
In September 2009, Pacific Century Group, led by Richard Li, agreed to purchase AIG Investments for $500 million. The acquisition was finalized in March 2010 through Bridge Partners, a subsidiary of PCG, and the company was renamed PineBridge Investments. Neuger assumed the role of CEO at PineBridge but resigned in 2012.
PineBridge broadened its portfolio into private equity real estate in 2020 by acquiring Benson Elliot Capital, a UK-based firm. The merged entity, PineBridge Benson Elliot LLP, went on to acquire housing developer Sigma Capital Group in 2021.
In December 2024, MetLife's institutional asset management division announced an agreement to acquire PineBridge from PCG for $1.2 billion.