New York Life Buys Dexia Asset Management Arm For $512M
By Kurt Orzeck (September 24, 2013, 9:13 PM EDT) -- New York Life Investments will buy Dexia Asset Management from Franco-Belgian investment services company Dexia Group for €380 million ($512 million), less than a week after the parties entered into exclusive negotiations over the prospective deal, the companies announced Tuesday.
The purchase gives New York Life Investments — owned by New York Life Insurance Co. — access to European, Asian and Australian markets through Dexia, which has $100 billion in assets under management. It also boosts the value of New York Life Investments' assets under management, which totaled around $388 billion as of July, to $480 billion.
New York Life Investments said...
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