Mergers & Acquisitions / Joint Ventures

Li’s PCG acquires PineBridge from AIG


Hong Kong-based private investment firm, Pacific Century Group (PCG), is expected to gain a foothold in the alternative investments and fund of hedge funds space, having finalised its $277 million cash acquisition of PineBridge Investments, a New York-based asset management firm owned by troubled insurance giant AIG.

Set up in 1993, PCG belongs to Richard Li, the owner of PCCW and son of well-known Asian tycoon Li Ka-Shing.

Formerly known as AIG Investments, PineBridge manages capital for institutional and individual investors across a variety of asset classes. This includes an array of hedge fund of funds covering global