MetLife’s institutional investment management business MetLife Investment Management (MIM) announced today an agreement to acquire specialist ESG impact fixed income investment manager Affirmative Investment Management (AIM).

According to MIM President and MetLife Chief Investment Officer Steven Goulart, the acquisition will provide the firm with “additional capabilities to evaluate sustainability and risk considerations across our core competencies in public fixed income, private fixed income and real estate,” as MIM seeks to expand sustainable investing solutions for institutional clients.

Goulart added:

“By combining AIM’s expertise with MIM’s commitment to sustainable investing, we will be even better positioned to provide comprehensive insight and counsel to clients and consultants on ESG considerations.”

Founded in 2014, London-based AIM’s mission is to “manage fixed income portfolios that generate positive environmental and social impact without compromising financial returns.” The firm is solely focused on investing in the impact bond market. AIM’s assets under management as of June 2022 were over $1 billion.

AIM Chairman and Co-Founder Stephen Fitzgerald said:

“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. 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.”