Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:An Insurer Puts More Chips On a $1.5T-AUM Giant Not Rated 0.0 Email Routing List Email & Route  Print Print
Thursday, March 10, 2022

An Insurer Puts More Chips On a $1.5T-AUM Giant

by: Neil Anderson, Managing Editor

A mutually owned insurer's team is putting more chips on a $1.5314-trillion-AUM (as of February 28), publicly traded asset manager.

Martin L. "Marty" Flanagan
Invesco
President and CEO
Since last Friday, Massachusetts Mutual Life Insurance Co (dba MassMutual) has bought more than 4.1 million shares of Invesco [profile], according to a filing with the SEC. Marty Flanagan, president and CEO of Invesco, confirms that the purchases pushed MassMutual's Invesco stake up from 16.4 percent to 17.3 percent. (At Invesco's market cap of $9.18 billion, that translates into a $1.588-billion stake.)

"We have a strong strategic relationship with MassMutual, including its commitment of more than $1 billion to various Invesco alternatives strategies, which has helped increase the speed at which we can launch new products for the benefit of our clients," Flanagan wrote yesterday in a LinkedIn post. "Earlier this year, Invesco resumed share repurchases, reflecting our confidence in the future of our business and the industry."

(Flanagan and nine other senior Invesco execs also upped their stakes in the company last week, according to other filings. One decreased his stake.)

MassMutual's move comes after representatives of another big Invesco shareholder left Invesco's board last month and joined the board of another publicly traded fund firm.

MassMutual became Invesco's single biggest shareholder about three years ago as part of Invesco's purchase of MassMutual's OppenheimerFunds subsidiary. When that deal closed in May 2019, MassMutual held a 15.7-percent stake in Invesco. A year and a half later, MassMutual gained another Invesco board seat. 

Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE

0.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2024: Q2Q1
2023: Q4Q3Q2Q1
2022: Q4Q3Q2Q1
2021: Q4Q3Q2Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Raw XML
Add to My Yahoo!
follow us in feedly




©All rights reserved to InvestmentWires, Inc. 1997-2024
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use