Increasing Consumer Demand for Social Shopping Experiences

 Dubai, United Arab Emirates - Wednesday, 31. August 2022

The Covid-19 pandemic prompted massive growth of the e-commerce market, allowing consumers to purchase both basic needs and luxury items from the comfort and safety of home. As the world transitions from the pandemic, a return to the pre-pandemic in-person shopping trends is imminent.

 

A consumer behaviour shift is already underway with shoppers seeking more social, experience-based setups - an uptick in shopping complexes that serve as both outlets for purchasing and opportunities to socialise with friends and families is already being noted.

 

DJM Capital, California's leading Investor-Manager Real Estate Group with two billion-dollar assets under management, has already used this novel concept in its recent real estate acquisitions.

 

D. John Miller, Founder and Chief Executive Officer of DJM Capital, says, "Multiple years of experience and intensive market research indicate that people use E-commerce to purchase 'things', whether that be everyday essentials or luxury items. E-commerce is a great marketing strategy and tool; however, it fails to consider human nature - the need for social activity with friends, family, and other loved ones. What you can't get with E-commerce is the full sensory experience of sitting in a wonderful place with loved ones, for example, and being stimulated through touch, smell, entertainment, music, and food. There's a dire need for shopping complexes that allow consumers to enjoy a more holistic experience comfortably."

 

He continues, "Our customer is essentially people - you and me. We're the ones who go out, shop, dine, and socialise for entertainment, and ideally, one wishes to do those things in a place that makes them want to embrace life in a very positive way. What we've created are distinct properties in upscale localities all over the beautiful state of sunny California that are, in a nutshell, all-inclusive sensory experiences. This includes state-of-the-art shopping complexes surrounded by gorgeous landscapes, lush gardens, walkability and a strong pedestrian culture, and multiple outlets for entertainment for all age groups, as well as fine dining."

 

The company prioritises keeping up with changing trends in the retail sector and is quick to adapt and modify its strategy to changing landscapes. Built on the pillars of quality, integrity, and long-term investor relationships, DJM offers communities aesthetic, curated properties in line with a modern and luxurious lifestyle.

 

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Contacts

Mohammed Al Barazenjey

+971557163727

mb@saharapr.com

Schlumberger, Aker Solutions and Subsea 7 Create Joint Venture

 Complementary geographic coverage, technology and engineering capabilities will deliver leading performance and integration in a growing offshore market

(BUSINESS WIRE) -- Schlumberger, Aker Solutions and Subsea 7 today announced an agreement to form a joint venture to drive innovation and efficiency in subsea production by helping customers unlock reserves and reduce cycle time. The agreement will bring together a portfolio of innovative technologies such as subsea gas compression, all-electric subsea production systems and other electrification capabilities that help customers meet their decarbonization goals.

The proposed joint venture will combine Schlumberger’s and Aker Solutions’ subsea businesses, which include deep reservoir domain and engineering design expertise, an extensive field-proven subsea production and processing technology portfolio, world-class manufacturing scale and capabilities, and a comprehensive suite of life-of-field solutions for customers all over the world. Subsea 7 will be an equity partner in the new joint venture.

“As investment in the offshore market—particularly in deepwater—continues to increase, our customers will benefit from enhanced services that leverage digital and technological innovation to drive improved subsea asset performance while increasing energy efficiency and reducing CO2 emissions,” said Schlumberger Chief Executive Officer Olivier Le Peuch. “We look forward to collaborating with both Aker Solutions and our subsea integration partner Subsea 7 on this new venture.”

“Aker Solutions, Schlumberger and Subsea 7 are complementary businesses, both in terms of products and services, as well as customers and geographical presence. Furthermore, Schlumberger shares our commitment to innovation, such as deploying digital solutions and decarbonization technologies,” said Øyvind Eriksen, President and Chief Executive Officer of Aker ASA.

Upon closing of the proposed transaction, the existing Subsea Integration Alliance (SIA) between Schlumberger and Subsea 7, will be amended so that the new joint venture will assume Schlumberger’s role in the Alliance, which will be renewed for a ten-year term.

“We are excited to build on our highly successful alliance with Schlumberger and partnership with Aker Solutions. This new joint venture is a critical step as we collaborate on integrated subsea projects that drive maximum value for our customers,” said Subsea 7 Chief Executive Officer John Evans.

In addition to contributing its subsea business to the joint venture, at closing Schlumberger will issue to Aker Solutions shares of Schlumberger common stock valued at USD 306.5 million in a private placement. Concurrently, Subsea 7 will purchase its 10% interest in exchange for USD 306.5 million in cash to Aker Solutions. The joint venture also will issue a promissory note to Aker Solutions for USD 87.5 million. At closing of the joint venture, Schlumberger will own 70%, with Aker Solutions owning 20% and Subsea 7 owning 10%. The transaction is subject to regulatory approvals and other customary closing conditions and is expected to close in the second half of 2023.

More information on the proposed transaction is available on Schlumberger’s investor relations website, which can be accessed at https://investorcenter.slb.com/.

About Schlumberger

Schlumberger (SLB: NYSE) is a technology company that partners with customers to access energy. Our people, representing over 160 nationalities, are providing leading digital solutions and deploying innovative technologies to enable performance and sustainability for the global energy industry. With expertise in more than 120 countries, Schlumberger collaborates to create technology that unlocks access to energy for the benefit of all.

Find out more at www.slb.com.

About Aker Solutions

Aker Solutions delivers integrated solutions, products and services to the global energy industry. We enable low-carbon oil and gas production and develop renewable solutions to meet future energy needs. By combining innovative digital solutions and predictable project execution we accelerate the transition to sustainable energy production. Aker Solutions employs approximately 14,000 people in more than 20 countries.

Find out more at www.akersolutions.com.

About Subsea 7

Subsea 7 is a global leader in the delivery of offshore projects and services for the energy industry. Subsea 7 makes offshore energy transition possible through the continuous evolution of lower-carbon oil and gas and by enabling the growth of renewables and emerging energy.

Find out more at www.subsea7.com.

Cautionary Statement Regarding Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The opinions, forecasts and projections regarding the expected benefits of the proposed transaction; the expected timing of the completion of the transaction; the parties’ ability to complete the transaction considering the various regulatory approvals and other closing conditions; future opportunities for the joint venture and its products and services; and any other statements regarding the parties’ or the joint venture’s future expectations, beliefs, plans, objectives, financial conditions, assumptions or future events or performance, are forward-looking statements within the meaning of the federal securities laws. These statements are subject to, among other things, satisfaction of the closing conditions to the proposed transaction, the risk that the proposed transaction does not occur, negative effects from the pendency of the proposed transaction, the ability to realize expected benefits from the proposed transaction, the timing to consummate the proposed transaction, and (as to Schlumberger) other risk factors contained in Schlumberger’s most recent Forms 10-K and other filings with the SEC available at the SEC’s Internet site (http://www.sec.gov). Actual results may differ materially from those expected, estimated or projected. Forward-looking statements speak only as of the date they are made, and the parties undertake no obligation to publicly update or revise any of them in light of new information, future events or otherwise.

 

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Contacts

Media

Josh Byerly – Vice President of Communications, Schlumberger

Moira Duff – Director of External Communication, Schlumberger

Tel: +1 (713) 375-3407

media@slb.com

Torbjorn Andersen – Vice President of External Communications, Aker Solutions

Tel: +47 928 85 542

Julie Taylor – Head of Group Communications, Subsea 7

Tel: +44 1224 526270

julie.taylor@subsea7.com

Investors

Ndubuisi Maduemezia – Vice President of Investor Relations, Schlumberger

Joy V. Domingo – Director of Investor Relations, Schlumberger

Tel: +1 (713) 375-3535

investor-relations@slb.com

Fredrik Berge – Vice President of Investor Relations, Aker Solutions

Tel: +47 450 32 090

fredrik.berge@akersolutions.com

Katherine Tonks – Investor Relations Director, Subsea 7

Tel: +44 20 8210 5568

katherine.tonks@subsea7.com

 

IQM Quantum Computers and QphoX Partner to Develop Optical Interface for Scaling Superconducting Quantum Processors

 DELFT, The Netherlands - Wednesday, 31. August 2022



(BUSINESS WIRE) --Dutch based quantum transduction startup QphoX and Finnish quantum computer manufacturer IQM Quantum Computers have announced a new collaboration to develop a next generation interface for scaling quantum computers.

IQM is the European leader in building quantum computers and provides on-premises quantum computers for supercomputing data centres and research labs and offers full access to its hardware. IQM delivers these machines as a full-stack system integrator with its own quantum processors using superconducting qubits.

QphoX specializes in photon wavelength conversion for quantum technologies and is working to create the world’s first quantum modem which will allow quantum processors to be networked together. This will unlock new applications like distributed quantum computing between remotely entangled quantum processors, solving one of the biggest scaling challenges facing the industry.

The companies will combine their respective expertise in quantum information processing to create a new, scalable interface for communicating with quantum processors via optical interconnects.

Today’s quantum processors will need to substantially grow in size in order to tackle real-world applications. One of the main obstacles is that microwave quantum processors must operate in a demanding cryogenic environment while being controlled via microwave lines and cryogenic amplifiers that generate substantial heat, thus limiting the size of the processor. As manufacturers push towards larger chips it is critical to find scalable approaches that will ultimately allow for computers with hundreds of thousands of qubits.

“By leveraging our unique microwave to optical conversion technology, signals can instead be routed through the cryostat via optical fibers. As a result, both the spatial and heat load constraints placed on the cryostat will be reduced, allowing larger processors to be built in a single cryostat. We are very excited about embarking on this new partnership. Over the past several months we have already been working with IQM’s processors and have been very impressed with the quality and performance” said Frederick Hijazi, COO and Co-Founder, QphoX.

“The future large scale quantum computers require technologies for optical communication or cryogenic signal generation, or both. We found QphoX’s expertise and technology plans as a promising alternative to communicate the control and readout signal of quantum computer to the qubit chip using optical fiber. This collaboration will become an enabler for systems beyond 1000 qubits through simplifying the cabling and new product innovation” said Dr. Juha Vartiainen, COO and Co-founder, IQM Quantum Computers.

ENDS

About IQM Quantum Computers:

IQM is the pan-European leader in building quantum computers. IQM provides on-premises quantum computers for supercomputing data centres and research labs and offers full access to its hardware. For industrial customers, IQM delivers a quantum advantage through a unique application-specific, co-design approach. IQM is building Finland’s first 54-qubit quantum computer with VTT, and an IQM-led consortium (Q-Exa) is also building a quantum computer in Germany. This computer will be integrated into an HPC supercomputer to create a quantum accelerator for future scientific research. IQM has over 190+ employees with offices in Paris, Madrid, Munich and Espoo.

About QphoX:

QphoX is developing the world’s first Quantum Modem™, a breakthrough device that will allow the quantum computing industry to scale through connectivity and parallelization and unlock the potential of the Quantum Internet. QphoX also provides optical readout and control solutions for quantum processors to address intermediate scaling challenges within single cryostats. QphoX is based in Delft, the Netherlands.

 

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Contacts
IQM Quantum Computers:
Raghunath Koduvayur, Head of Marketing and Communications
Email: Raghunath@meetiqm.com
Mobile: +358 50 4876509
www.meetiqm.com

QphoX:
Frederick Hijazi, COO
Email: info@qphox.eu
Website: www.qphox.eu

Nexo Commits Additional $50 Million to Long-standing Buyback Initiative

 LONDON - Wednesday, 31. August 2022

(BUSINESS WIRE) -- Nexo’s Board of Directors has today allocated a further $50 million to the company’s long-standing Buyback initiative. This approval enables the leading regulated digital assets institution to discretionally and periodically repurchase its native NEXO Token in the open market. This development comes as a continuation of the previous $100 million Buyback which Nexo completed earlier this year, in May.

“The allocation of an additional $50 million to our buyback plan is a result of our solid liquidity position and Nexo’s ability and readiness to spur on its own products, token, and community, alongside its outward-facing initiatives of injecting liquidity into the industry,” commented Antoni Trenchev, Nexo Co-Founder and Managing Partner.

“In these challenging market conditions, the NEXO Token has moved consistently with the likes of BTC and ETH, demonstrating that, proportionally, demand for our native asset remains strong. Right now, our investors and clients require solid ground to walk on, and our third token buyback ensures this added stability as we emerge from the latest market rollercoaster,” he added.

Starting immediately, the new $50 million buyback program is scheduled to be completed in six months, contingent upon market conditions. All repurchased tokens will be placed in Nexo’s established on-chain Investor Protection Reserve (IPR) with the following ERC-20 address: 0x1C433CBF4777e1f0dCe0374d79aaa8ecDC76B497. Per the company’s long-standing dedication to transparency, monthly communication regarding the ingress of bought back tokens to this address will be shared through Nexo’s website and other official channels.

Upon repurchase, each tranche of tokens is subject to a 12-month vesting period. Once the lock-up term has expired, repurchased tokens might be dedicated to daily interest payouts in NEXO Tokens and strategic investments via token mergers with applicable vesting schemes to ensure token holder interests.

To provide an auxiliary momentum to the program, revenue from NEXO Token pairs on the platform’s native exchange and NEXO Token-collateralized credit will be reinvested directly into the buyback. As always, the Nexo Board of Directors may allot additional budgets for future buybacks in accordance with company growth and market conditions.

As the third NEXO Token buyback, this program is part of a now years-long tradition of token-centric initiatives designed to bolster the utility and liquidity of the NEXO Token. With three successful Nexonomics editions, each ushering in new and improved tokenomics mechanisms – the Loyalty program, Earn in NEXO, a Governance Vote for the platform, and others – Nexo continues to build out its token with utility as its linchpin. Over time the crypto industry has proven that it is projects and assets rich in such real applications that thrive.

While volatility has been prevalent in the market and a bearish trend has forced multiple crypto companies out of business, Nexo remains steadfast, as demonstrated by its industry-unique real-time audit. The company is working to provide relief to the industry by offering liquidity to distressed players and by participating in the consolidation of the space through its expansive M&A war chest. Complementary to this, Nexo is also among the few companies to continue and even expand its recruitment and retention plans, with its team headcount having grown by 200% over the last 12 months, all while investing in major new products, which the firm plans to launch in the upcoming weeks.

***

About Nexo

Nexo is the world’s leading regulated digital assets institution. The company’s mission is to maximize the value and utility of cryptocurrencies by offering an advanced exchange service with 400+ market pairs, tax-efficient Instant Crypto Credit Lines™, a high-yield Earn Crypto Interest suite, and sophisticated trading and OTC capabilities, while providing the top-tier custodial insurance and military-grade security of the Nexo Wallet. Nexo has processed $100+ billion for 5,000,000+ users across more than 200 jurisdictions. Visit nexo.io to learn more.

 

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Contacts

Stella Zlatareva
PR Manager
stella@nexo.io

 

Mary Kay Announces Outcomes of SDG Pilot Village Project in China (2017-2021) With Release of Impact Report and Video

 Project Demonstrates Multiplier Effect of Women’s Entrepreneurship in Advancing the SDGs at Local Level

(BUSINESS WIRE) -- Rural women comprise a quarter of the world’s population and are the backbone of their economies, comprising an estimated 40% of the agricultural labor force in developing countries as farmers, wage earners, and entrepreneurs.1 Despite their critical contributions to local economies, they continue to face structural barriers to asset ownership, equal pay, participation in decision-making forums, and access to resources and markets. Cultural norms also result in women shouldering most of the responsibility for unpaid care and domestic work.2

Recognizing that improving the lives of rural women is key to fighting poverty and achieving sustainable development, UNDP China and Mary Kay, in collaboration with the China Women’s Development Foundation, the China International Center for Economic and Technical Exchanges, the Women’s Federation of Yunnan Province and Yongren County Government, launched the SDG Pilot Village Project in Waipula, Yunnan Province, China in 2017.

The joint project, entitled “SDG Pilot Village Project: Women-focused Poverty Reduction and Sustainable Development” (2017-2021), addressed the structural barriers to women’s labor market participation, including through the provision of social protection and the creation of green entrepreneurial opportunities through ecotourism, coupled with efforts to enhance women’s leadership in community decision-making forums.

Women from the Yi ethnic group became the drivers of economic growth and poverty reduction through targeted gender-specific interventions that advanced an inclusive local economy and the preservation of their cultural heritage. These activities brought about transformational changes at the local level, advancing gender equality and accelerating sustainable development.

“This project shows how entrepreneurship can be a powerful tool in addressing the income gap between men and women while fighting poverty in rural areas,” said Beate Trankmann, UNDP Resident Representative in China. “Yi women have gained the right skills and resources to leverage their cultural heritage, built solid economic foundations for themselves, and become leaders in their communities, paving the way for future generations.”

The pilot highlights the potential of multi-stakeholder partnerships, including the private sector, in advancing the SDGs while maximizing the development impact of women’s entrepreneurship. UNDP China, together with Mary Kay China and local public sector partners, worked with women entrepreneurs to ensure they were equipped with the tools and education necessary to become economic actors. The barriers to their participation in community decision-making structures were also addressed so that they could actively contribute to creating an inclusive and sustainable local green economy.

“The SDG Pilot Village Project demonstrates how the private sector can play a critical role in helping achieve the SDGs with a strong focus on women’s economic empowerment and provides a blueprint on how companies can leverage their unique strengths and accelerate development results through public-private partnerships,” said Deborah Gibbins, Chief Operating Officer, Mary Kay Inc.

“The women-focused approach of providing entrepreneurial opportunities to rural women proved to be transformative. When women started participating in economic development and consequently gained status in their communities, the whole village benefited,” said Wendy Wang, President, Mary Kay Asia Pacific Region.

The outcomes of Phase 1 of the project provide compelling evidence of the transformational effect that a gender-responsive approach can make to localizing the SDGs and in the design of policy and programmatic responses for a post-COVID-19 green and inclusive recovery.

The project contributed to the following 12 SDGs:

    Goal 1. No Poverty
    Goal 2. Zero Hunger
    Goal 3. Good Health and Well-Being
    Goal 4. Quality Education
    Goal 5. Gender Equality
    Goal 6. Clean Water and Sanitation
    Goal 8. Decent Work and Economic Growth
    Goal 9. Industry, Innovation, and Infrastructure
    Goal 10. Reduced Inequalities
    Goal 15. Life on Land
    Goal 16. Peace, Justice, and Strong Institutions
    Goal 17. Partnerships for the Goals

The SDG Pilot Village Project - Key Achievements Phase 1 (2017- 2021)

    With the project contributing to China’s poverty alleviation campaign, the proportion of villagers living below the national poverty line fell from 28% in 2017 to 0% in 2020 in Waipula;
    Through training and capacity building, 60 households and 193 individuals living under the poverty line were lifted out of poverty by 2020;
    210 seasonal migrant workers and 120 long-term migrant workers, the majority of which comprised women, were able to return home to find a job or start their own business;
    607 local women found employment and raised their income with some emerging as community leaders, taking up roles as members of the village committee and managers in local hospitality and the arts, and
    People’s per capita income grew to be RMB 14,128 in 2021.

To share the story of the SDG Pilot Village Project, Mary Kay and partners have released:

    An Impact Report on Phase 1 entitled “Piloting SDG Localization at the Village Level – A Women-focused Poverty Reduction and Sustainable Development Project in Yunnan Province, China” which highlights the genesis, means of implementation and outcomes of the project advanced through a multi-stakeholder supported development process. Read the Impact Report here.
    A video entitled “Daughters of the Moon” featuring three women leaders from Waipula: Yongyan Zhu, Xuefang Xia and Shiqiong Han who speak of the changes they have personally experienced through entrepreneurship. Partner representatives also describe the economic, environmental and social transformations that have taken place in the village. Watch the 11-minute video here.

UNDP China and project partners will soon move to Phase 2 (2022-2024) which aims to:

    Accelerate entrepreneurship: enhance the capacity of villagers, especially women, and raise their income;
    Promote diversity and inclusion: safeguard the local ethnic culture and empower women, and
    Advance green development: protect the natural environment and promote sustainable villages.

For the second year in a row, the SDG Pilot Village Project has been shortlisted for the Reuters Events Responsible Business Awards under its “SDG Pioneer Award” category. The Awards ceremony will take place on 13th October in London.

About Mary Kay

One of the original glass ceiling breakers, Mary Kay Ash founded her dream beauty company in 1963 with one goal: enriching women’s lives. That dream has blossomed into a multibillion-dollar company with millions of independent sales force members in nearly 40 countries. As an entrepreneurship development company, Mary Kay is committed to empowering women on their journey through education, mentorship, advocacy, networking, and innovation. Mary Kay is dedicated to investing in the science behind beauty and manufacturing cutting-edge skincare, color cosmetics, nutritional supplements, and fragrances. Mary Kay believes in enriching lives today for a sustainable tomorrow, partnering with organizations from around the world focusing on promoting business excellence, supporting cancer research, advancing gender equality, protecting survivors of domestic abuse, beautifying our communities, and encouraging children to follow their dreams. Learn more at marykayglobal.com, find us on Facebook, Instagram, and LinkedIn, or follow us on Twitter.

About United Nations Development Programme (UNDP)

As the United Nations lead agency on international development, UNDP works in 170 countries and territories to eradicate poverty and reduce inequality. We help countries to develop policies, leadership skills, partnering abilities, institutional capabilities, and to build resilience to achieve the Sustainable Development Goals. UNDP’s work is concentrated in three focus areas: sustainable development, democratic governance and peace building, and climate and disaster resilience. www.undp.org

About China International Center for Economic and Technical Exchanges (CICETE)

Operating directly under the Ministry of Commerce, CICETE was founded in 1983 with the approval of the State Council. CICETE's main function, delegated by the Ministry, is to coordinate the cooperation between China, UNDP and the United Nations Industrial Development Organization (UNIDO) including executing their assistance programs in China, and managing projects of general goods supply, South-South Cooperation Assistance Fund projects, and capacity building projects under the China-Aid program to other developing countries. www.cicete.org.cn/en/

About China Women’s Development Foundation (CWDF)

The China Women's Development Foundation is an AAAAA foundation set up by the All-China Women's Federation in 1988. It is a national public foundation which raises funds from China and other countries and regions. The mission of CWDF is to safeguard women's rights and interests, improve women's quality of life, and promote the development of women and women's causes in China to contribute towards building a harmonious society. www.cwdf.org.cn/en/

1 International Labour Organization. (2018). Rural women at work: Bridging the gaps. https://www.ilo.org/global/topics/equality-and-discrimination/publications/WCMS_619691/lang--en/index.htm
2 United Nations. (2021, October 21). International Day of Rural Women. https://www.un.org/en/observances/rural-women-day

 

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Contacts

Mary Kay Inc.
Corporate Communications
media@mkcorp.com
+1-972-687-5332

Mary Kay China
Leo Zhou
Director, Public Affairs
leo.zhou@mkcorp.com
+86 1068349333

 

Andersen Global Advances Africa Presence with Additional Tanzania Coverage

 SAN FRANCISCO - Wednesday, 31. August 2022

(BUSINESS WIRE)--Andersen Global continues to add depth to its Africa platform through a Collaboration Agreement with Tanzania-based law firm Lawhill and Co. Advocates.

Based in Dar es Salaam and founded in 2019, Lawhill and Co. Advocates works with local and international clients, including corporations and international consulting organizations. Led by the Managing Partner Hadija Kinyaka, the firm offers taxation, corporate and commercial law services as well as strategic civil cases litigation spanning through various industries including telecommunications, energy and infrastructure, natural resources, banking and finance, international trade, and employment & immigration.

“Our team of tax and corporate professionals strives to set the standard for quality service across all industries and be a one-stop shop for all business needs,” said Hadija. “The past few years have been a transformational period for our firm and this collaboration with Andersen Global boosts our ability to provide best-in-class service to our local, regional and international clients. This collaboration effectively makes the firm achieve its vision of remaining one of the premier tax and corporate law firms in Tanzania and is a key milestone to our global reach.”

“Hadija and her team consistently demonstrate the highest professional standards and have established a firm based on transparency and stewardship,” added Andersen Global Chairman and Andersen CEO Mark Vorsatz. “As we continue to establish a strong presence in the Africa region, Lawhill and Co. Advocates will provide valuable insights into the Tanzanian market and work synergistically with the surrounding member firms and collaborating firms to deliver seamless service globally.”

Andersen Global is an international association of legally separate, independent member firms comprised of tax and legal professionals around the world. Established in 2013 by U.S. member firm Andersen Tax LLC, Andersen Global now has more than 12,000 professionals worldwide and a presence in over 380 locations through its member firms and collaborating firms.

 

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Contacts

Megan Tsuei

Andersen Global

415-764-2700

 

MetLife Investment Management to Acquire Specialist ESG Manager, Affirmative Investment Management

 

MIM to expand sustainable investing solutions for institutional clients

(BUSINESS WIRE)--MetLife Investment Management (MIM), the institutional asset management business of MetLife, Inc. (NYSE: MET), announced that it has entered into a definitive agreement to acquire Affirmative Investment Management (AIM), a specialist global environmental, social and corporate governance (ESG) impact fixed income investment manager with deep capabilities in impact investing, verification, reporting and engagement. As of June 30, 2022, AIM’s assets under management were $1.01 billion. The acquisition is subject to customary closing conditions, including regulatory approval.

The acquisition will advance MIM’s ESG investment and reporting capabilities as it seeks to deliver client solutions and long-term risk adjusted returns. “By combining AIM’s expertise with MIM’s commitment to sustainable investing, we will be even better positioned to provide comprehensive insight and counsel to clients and consultants on ESG considerations,” said Steven J. Goulart, president of MIM and executive vice president and chief investment officer for MetLife. “MIM will maintain its fundamental investment processes, and AIM brings us additional capabilities to evaluate sustainability and risk considerations across our core competencies in public fixed income, private fixed income and real estate.”

“We are pleased to be able to join a world-class institutional investment firm in MIM and continue our mission of managing high-performing portfolios that consider positive environmental and social impact,” said Stephen Fitzgerald, who co-founded AIM in 2014. “Upon our planned integration with MIM’s investment teams, we believe that we can deliver differentiated insights and analysis to MIM’s growing roster of global clients.”

AIM has won numerous ESG related industry awards, most recently Best ESG Investment Fund: Fixed Income at the ESG Investing Awards 2022, Impact Asset manager of the Year at the 2021 Australian Impact Investment Awards, and Impact Report of the Year (for investors) at the Environmental Finance Bond Awards in 2021.

About MetLife Investment Management

MetLife Investment Management, the institutional asset management business of MetLife, Inc. (NYSE: MET), is a global public fixed income, private capital and real estate investment manager providing tailored investment solutions to institutional investors worldwide. MetLife Investment Management provides public and private pension plans, insurance companies, endowments, funds and other institutional clients with a range of bespoke investment and financing solutions that seek to meet a range of long-term investment objectives and risk-adjusted returns over time. MetLife Investment Management has over 150 years of investment experience and, as of June 30, 2022, had $590.9 billion in total assets under management.

About MetLife

MetLife, Inc. (NYSE: MET), through its subsidiaries and affiliates (“MetLife”), is one of the world’s leading financial services companies, providing insurance, annuities, employee benefits and asset management to help individual and institutional customers build a more confident future. Founded in 1868, MetLife has operations in more than 40 markets globally and holds leading positions in the United States, Japan, Latin America, Asia, Europe and the Middle East. For more information, visit www.metlife.com.

About Affirmative Investment Management

Affirmative Investment Management (AIM) is a specialist global environmental, social and corporate governance (ESG) impact fixed income investment manager with deep capabilities in impact investing, verification, reporting and engagement. Established in 2014, AIM focuses on mobilizing mainstream capital to address ESG-related challenges. Its mission is to manage fixed income portfolios that generate positive environmental and social impact without compromising financial returns. AIM’s highly experienced team is solely focused on investing in, and expanding, the impact bond market with a rigorous approach to building impact bond portfolios and generating returns.

Forward-Looking Statements

The forward-looking statements in this news release, using words such as “will,” “seek,” “continue,” “planned,” “believe” and “can” are based on assumptions and expectations that involve risks and uncertainties, including the “Risk Factors” MetLife, Inc. describes in its U.S. Securities and Exchange Commission filings. MetLife’s future results could differ, and it does not undertake any obligation to correct or update any of these statements.

 

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Contacts

For Media:

Dave Franecki

+1-973-264-7465

dave.franecki@metlife.com

Jansel Murad

(646) 722-6537

mim@dlpr.com