BlackRock to Manage Some AIG Liquid Fixed Income and Private Placement Assets
March 28 2022 - 10:23AM
Dow Jones News
By Michael Dabaie
American International Group Inc. has entered a partnership with
BlackRock Inc. for some liquid fixed income and private placement
assets to be managed by BlackRock.
Insurance company AIG said the arrangements contemplate
BlackRock managing up to $60 billion of the global AIG investment
portfolio and up to $90 billion of the Life & Retirement
investment portfolio. Additionally, BlackRock's Aladdin platform
will provide investment management technology for both AIG and Life
& Retirement.
AIG will implement the arrangements with BlackRock in phases
across AIG's global operations.
"For Life & Retirement, the partnership with BlackRock
creates both strategic and operating flexibility as we reposition
asset management and prepare the business to be a standalone
company," said AIG Chief Executive Peter Zaffino.
Write to Michael Dabaie at michael.dabaie@wsj.com
(END) Dow Jones Newswires
March 28, 2022 10:08 ET (14:08 GMT)
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