Latest Wealth Management M&A Deals: MetLife and Mesirow
noun. Mesirow, an independent, employee-owned financial services firm, is being acquired by MetLife Investment Management, a division of NY-listed MetLife. MetLife’s move includes the acquisition of three key teams and their associated assets: high yield and bank loan, strategic fixed income, and small-cap equity. The transfer of about $6 billion in assets to MetLife is pending standard approvals and consents, with around 20 financial experts joining the MIM team. Financial terms of the deal have not been disclosed.
Mesirow, on the other hand, is shifting its focus towards expanding wealth management, fiduciary services, alternative assets, and capital markets. Boasting a considerable $300 billion in assets under its supervision, Mesirow is looking to strengthen its core offerings.
The acquisition aligns with MetLife’s “New Frontier” strategy aimed at propelling growth in asset management. By integrating these investment teams, MetLife hopes to enhance its leveraged finance platform, offering high yield and bank loan strategies that complement its existing lineup. According to MIM President Jude Driscoll, these newly acquired teams bring seasoned talent and a strategic fit to the firm.
The deal was facilitated by Third Street Partners, serving as MetLife’s advisor throughout the process.
