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31

Mar

Valores advises Brookfield on sale of insurance asset management business to Conning

  • By valores485

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Conning to add experienced investment team and increase assets under management, reinforcing its leadership in insurance asset management

HARTFORD, CT – March 31, 2014 — Conning, Inc. (“Conning”) a leading global insurance asset management firm announced that it has reached a definitive agreement with Brookfield Investment Management Inc. (“Brookfield”) to acquire certain assets of Brookfield’s Core Fixed Income Insurance Business, reinforcing Conning’s position as one of the top insurance asset managers globally. In addition, the investment team currently managing these assets will join Conning in a newly formed Manhattan investment office, providing clients with complete continuity in the management of their portfolios. Financial terms of the transaction were not disclosed.

The transaction signals Conning’s continued commitment to serve the insurance industry and adds meaningful scale to its North American operations. Upon completion of the transaction, these insurance clients – including Property/Casualty and reinsurance companies – will be managed under the Conning brand, with full access to the firm’s state-of-the-art insurance-focused asset management platform, insurance research, and risk management capabilities. There will be no change to the investment team overseeing client relationships.

“This transaction is a natural extension of our core investment platform, providing us additional expertise to service our clients. We are excited to have Brookfield’s experienced and respected team of insurance asset management professionals join Conning,” said Woody Bradford, President and Chief Executive Officer of Conning. “Our investment philosophy and culture of exceptional client service are very closely aligned.”

The team joining Conning — led by Joseph Syage and Dominick Bonanno — will integrate with Conning’s U.S. portfolio management group. Brookfield’s team brings an extensive network of long-standing industry relationships, strong investment performance results, and more than 30 years of insurance asset management experience.
“Our team is excited to become part of the Conning organization,” said Joseph Syage, Managing Director and head of Brookfield’s insurance asset management group. “We believe this will be a seamless transition for our clients given Conning’s deep resources, investment experience and capabilities, and we look forward to future growth opportunities for our team. Importantly, this is a perfect cultural fit.”

The transaction is expected to close in the second quarter of 2014, subject to customary closing conditions.

About Conning
Conning (www.conning.com) is a leading investment management company for the global insurance industry, with almost $83 billion in assets under management as of December 31, 2013, through Conning, Inc., Conning Asset Management Limited, Cathay Conning Asset Management Limited, and Goodwin Capital Advisers, Inc. The company’s unique combination of asset management, risk and capital management solutions and insurance research helps clients achieve their financial goals through customized business and investment strategies. Founded in 1912, Conning is focused on the future, providing clients with innovative solutions, leveraging its global capabilities, investment experience, and proprietary research. The company is headquartered in Hartford, Connecticut, with additional offices in Purchase, London, Cologne, and Hong Kong.

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Media Contacts:


Teri James
Conning
+1 860-299-2335 (direct dial)
teri.james@conning.com

Katrin Lieberwirth
Stanton Public Relations & Marketing
+1 646-502-3548 (direct dial)
klieberwirth@StantonPRM.com