PineBridge Investments has announced the completion of its sale to Pacific Century Group, the Asia-based private investment firm, from American International Group, Inc.

PineBridge operates as a multi-strategy investment manager in 31 countries with US $87.3 billion in assets under management as of December 31, 2009. PineBridge will continue to manage assets for hundreds of global investors and limited partners, including AIG, and will remain headquartered in New York.

CEO Win J. Neuger and the current management team will continue to lead the company. PineBridge professionals will be meaningful minority owners and investors in the firm.

Mr. Neuger commented, “We are very excited to partner with Pacific Century Group and begin a new chapter in our firm’s history. PCG’s extensive network in Asia complements our existing global reach, and their strong financial position benefits our future plans for growth. We have always endeavored to serve as strategic partners with our clients, with closely aligned interests. Our new independent structure allows us to realize that vision to an even greater extent.”

PineBridge Executive Committee member and Global Head of Listed Equity and Fixed Income, Hans K. Danielsson, added, “This new direction presents great opportunities to provide even stronger investment solutions for our clients. We are well-positioned to deliver top-class performance for our clients, who appreciate our ability to be a trusted advisor and true partner in their success.”

Robert T. Thompson, Executive Committee member and Global Head of Alternative Investments, stated, “PCG’s financial commitment and global relationships are valuable assets for our global private equity and hedge fund teams and limited partners. Their support will be a powerful addition to our global alternatives program.”