Hong Kong Billionaire Richard Li Pacific Century Group to Sell Majority Shareholding in $157 Billion Asset Manager PineBridge Investments, Acquired Asset Management Business from AIG Investments in 2010 & Renamed as PineBridge Investments
2nd February 2024 | Hong Kong
Hong Kong billionaire Richard Li Pacific Century Group (PCG) has been reported to be selling their majority shareholding in $157 billion asset manager PineBridge Investments, having acquired the asset management business from AIG Investments in 2010 & renaming as PineBridge Investments. Richard Li has a personal fortune of around $4.8 billion, and is the son of Hong Kong billionaire Li Ka-Shing ($36 billion fortune). Richard Li Tzar Kai is an entrepreneur and businessman who deeply believes in the impact of technology, innovation and finance in driving growth in the Asia region. Richard Li founded Pacific Century Group (PCG) in 1993, an Asia-based long-term private investment group with interests across three core business pillars – financial services, technology, media & telecommunications (TMT), and property. Pacific Century Group (PCG) is an Asia-based private investment group established in 1993 with interests across three core business pillars – Technology, Media & Telecommunications (TMT), Financial Services and Property. PCG has demonstrated a strong track record of successful investing, and has created a long-term sustainable network in Asia and across its core business pillars.
” Hong Kong Billionaire Richard Li Pacific Century Group to Sell Majority Shareholding in $157 Billion Asset Manager PineBridge Investments, Acquired Asset Management Business from AIG Investments in 2010 & Renamed as PineBridge Investments “
Hong Kong Billionaire Richard Li Pacific Century Group to Sell Majority Shareholding in $157 Billion Asset Manager PineBridge Investments, Acquired Asset Management Business from AIG Investments in 2010 & Renamed as PineBridge Investments
Richard Li, Pacific Century Group Chairman
Richard Li Tzar Kai is an entrepreneur and businessman who deeply believes in the impact of technology, innovation and finance in driving growth in the Asia region. Richard Li founded Pacific Century Group (PCG) in 1993, an Asia-based long-term private investment group with interests across three core business pillars – financial services, technology, media & telecommunications (TMT), and property. Richard Li was awarded the Lifetime Achievement Award by the Cable & Satellite Broadcasting Association of Asia in 2011. He is a member of the Center for Strategic and International Studies’ International Councillors Group in Washington, D.C. Richard Li is a licensed pilot and a licensed rescue scuba diver.
PineBridge Investments
PineBridge Investments is a private, global asset manager focused on active, high-conviction investing. We draw on the collective power of our experts in each discipline, market, and region of the world through an open culture of collaboration designed to identify the best ideas. Our mission is to exceed clients’ expectations on every level, every day. As of 31 December 2023, the firm managed US$157.1 billion* across global asset classes for sophisticated investors around the world. PineBridge is majority-owned by a subsidiary of Pacific Century Group (PCG), an Asia-based private investment group. PineBridge employees have a meaningful share in the success of PineBridge through equity ownership and other rights to profits of the business. Asset management is our only line of business, ensuring that our interests are fully aligned with those of our clients.
Our origin story, in many ways, begins with our name. ’PineBridge’ was chosen to reflect the firm’s roots, which developed as the former asset management division of AIG, headquartered on ’Pine’ Street in New York’s financial district, and its aspirations for the future: ’Bridge’ was the name of the project to transition AIG’s money management business into an independent entity. Employees embraced the name and the idea it conveyed of a bridge to the future with roots in the past. Independent since 2010, the firm continues to draw from its decades of investment experience across asset classes, a network of global offices with talented and highly rated investment teams, and a world-class infrastructure. Today, our clients include pension plans, insurance companies, official institutions, private banks, advisors and intermediaries, supported by offices and staff in 24 locations. Our footprint enables us to deliver the firm’s full capabilities to investors at a local level, working closely to understand investor objectives, meet their needs, and help to solve their challenges.
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