Fortress Investment Group LLC $250 Million Acquisition of Logan Circle Partners, L.P.


Moelis & Company LLC served as financial advisor and Morgan, Lewis & Bockius LLP served as legal counsel to MetLife. BofA Merrill Lynch served as financial advisor and Skadden, Arps, Slate, Meagher & Flom LLP served as legal counsel to the seller.

MetLife, Inc. and Fortress Investment Group LLC announced a definitive agreement for MetLife to acquire Logan Circle Partners, L.P., Fortress’ traditional fixed income asset management business, for approximately $250 million in cash.

Following the anticipated separation of Brighthouse Financial next month and assuming the closing of the Logan Circle Partners acquisition, MetLife’s Investment Management business ( MIM) would have more than $560 billion in total assets under management, of which more than $140 billion would be managed on behalf of third parties.

Logan Circle Partners is a fundamental research-based investment manager providing institutional clients actively managed investment solutions across a broad spectrum of fixed income strategies. The Logan Circle Partners senior investment team has on average more than 20 years of investment management experience and has be en working together since 2000.

The firm has more than 100 institutional clients and more than $33 billion in assets under management as of March 31, 2017. Logan Circle Partners shares MetLife’s focus on investment performance, client service, and risk management.

The Skadden team includes: M&A partners Peter Serating (Picture) and Joseph Coco; Tax partner David Polster (Chicago); and Executive Compensation and Benefits partner Regina Olshan.

Involved fees earner: Peter Serating – Skadden Arps Slate Meager & Flom; Joseph Coco – Skadden Arps Slate Meager & Flom; David Polster – Skadden Arps Slate Meager & Flom; Regina Olshan – Skadden Arps Slate Meager & Flom;

Law Firms: Skadden Arps Slate Meager & Flom;

Clients: Fortress Investment Group;

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Author: Ambrogio Visconti