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Laxman Pai, Opalesque Asia:

Money manager Aristotle Capital Management is to buy Pacific Asset Management (PAM), the specialist credit money management firm with about $20.7bn of assets under management owned by insurer Pacific Life.

Terms of the deal, which is expected to close in the first half of 2023, were not disclosed, said a joint media release.

As part of the transaction, PAM's parent company Pacific Life Insurance Company will receive a minority interest in Aristotle. Aristotle also announced that subsequent to the close of the transaction, Pacific Asset Management will be known as Aristotle Pacific Capital.

The transaction represents $20.7 billion in assets under management and over 50 professionals, including 23 investment team members, to Aristotle.

"Aristotle's investment management mindset, entrepreneurial culture, and robust infrastructure will strengthen our business as we continue to deliver for our clients," said Dominic Nolan, CFA, Chief Executive Officer of PAM.

According to the release, the acquisition fits into Aristotle's strategy to thoughtfully expand product offerings and identify investment talent as well as to broaden Aristotle's fixed-income business. The transaction will bring together two complementary businesses and includes an ongoing strategic partnership between Pacific Life and Aristotle.

Adrian Griggs, Executive Vice President and Chief Operating Officer of Pacific Life said: "Due to the complementary natur......................

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