American International Group (AIG) has announced a strategic partnership with BlackRock. In this partnership, certain bonds and private placement assets are managed by BlackRock.
Under this arrangement, BlackRock will manage a global AIG investment portfolio of up to $ 60 billion and a life and retirement investment portfolio of up to $ 90 billion. In addition, BlackRock’s Aladdin platform provides investment management technology for both AIG and Life & Retirement.
“Partnerships with asset management companies like BlackRock represent the continuation of our strategy to work with world-class organizations while achieving excellence at AIG,” said AIG Chairman and CEO. Peter Zafino says. “BlackRock conducts outstanding performance performance and world-class risk analysis through the Aladdin platform. BlackRock’s global scale makes this an important long-term value creation opportunity for stakeholders. It’s another important milestone as momentum continues towards the separation of the Life & Retirement business and AIG’s future state. ”
In the case of Life & Retirement, Zaffino said, “The partnership with BlackRock provides both strategic and operational flexibility in relocating asset management and preparing the business to become an independent company.” increase.
According to the insurance company, the agreement with BlackRock will be phased in throughout AIG’s global business.
“BlackRock is honored to be selected to serve AIG as a strategic partner,” said Rob Capito, President of BlackRock. “We look forward to leveraging our investment expertise, scale, and technology capabilities for the benefit of all AIG stakeholders. I have great respect and admiration for AIG. We are confident in the long-term value that BlackRock brings when embarking on this journey together. “
AIG confirms strategic partnership with BlackRock
Source link AIG confirms strategic partnership with BlackRock