MetLife Investment Management (MIM), the asset management business of MetLife, Inc., has entered into a definitive agreement to acquire Affirmative Investment Management (AIM), a specialist ESG impact fixed income investment manager with deep capabilities in impact investing, verification, reporting and engagement. As of June 30, AIM’s AUM were $1.01bn. The acquisition is subject to customary closing conditions, including regulatory approval.
What does AIM bring to MIM’s portfolio?
The acquisition will advance MIM’s ESG investment and reporting capabilities as it seeks to deliver client solutions and long-term risk adjusted returns. “By combining AIM’s expertise with MIM’s commitment to sustainable investing, we will be even better positioned to provide comprehensive insights and counsel to clients and consultants on ESG considerations,” said Steven J. Goulart, president of MIM and executive VP 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,” Goulart further commented.
AIM has won numerous environmental, social and corporate governance (ESG) related 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 at the Environmental Finance Bond Awards in 2021.
What does the transaction mean to AIM?
“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,” Fitzgerald said.