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The Treasury said that it and the Federal Reserve Bank of New York provided a total $182.3 billion to AIG, which paid back a total $205 billion, for a total positive return, or profit, to the government of $22.7 billion. In addition, AIG sold off a number of its own assets to raise money to pay back the government.
[2] [3] [4] Win Neuger who joined AIG in 1995 to lead and grow the division, was the CEO of AIG Investments as well CIO of AIG. [ 5 ] [ 6 ] [ 7 ] In 2004, AIG Investments set up a joint venture with Huatai Securities forming AIG-Huatai Fund Management (now known as Huatai-PineBridge Fund Management).
70 Pine Street (formerly known as the 60 Wall Tower, Cities Service Building, and American International Building) is a 67-story, 952-foot (290 m) residential building in the Financial District of Lower Manhattan in New York City, United States.
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In 2020, AIG announced plans to perform the spin-off with a 2022 IPO. In July 2021, the company announced that Blackstone Group would acquire 9.9% of the new unit for $2.2 billion cash. Blackstone and AIG also entered a long-term asset management agreement for about one quarter of AIG's life and retirement portfolio, set to increase in ...
In 2016, Lightyear Capital, LLC and PSP Investments bought the then named AIG Advisor Group from AIG. [5] In 2019, Reverence Capital Partners bought Advisor Group for $2.3 billion. [6] In 2023, Advisor Group announced its new name, Osaic, as part of a multi-month strategy to rebrand its subsidiary firms into one entity. [7] [8]
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The firm completed its first Home Mortgage-Backed Security (HMBS) issuance in July 2013, after receiving approval from Ginnie Mae, [7] in a program said to be "an essential financial solution for a growing number of senior citizens.". [8] The company was named as the leading HMBS issuer for the first half of 2015, according to NewView Advisors ...