Invesco and MassMutual Announce $1B Preferred Stock Repurchase and New Partnership

Whats Happening:

Invesco Ltd. and MassMutual have announced a significant financial transaction and strategic partnership. Invesco will repurchase $1 billion of its $4 billion outstanding Series A Preferred Stock from MassMutual. Additionally, Invesco and Barings, MassMutual's asset management subsidiary, are forming a new strategic product and distribution partnership for U.S. Wealth channels, focusing on private markets capabilities.

Key Moves:

• Invesco to repurchase $1B of preferred stock from MassMutual

• Invesco and Barings form strategic partnership for private markets offerings

• MassMutual to provide $650M seed capital for new partnership initiatives

By The Numbers:

• Invesco to repurchase $1B of $4B outstanding preferred stock

• MassMutual retains 18.2% ownership of Invesco common shares

• Barings manages $442 billion in assets

Key Quotes:

• "We are excited about this evolution in our strategic relationship with MassMutual," stated Andrew Schlossberg, President and CEO of Invesco Ltd.

• "This mutually beneficial relationship also enhances our global asset management capabilities by expanding Barings' product and distribution opportunities," said MassMutual Chairman, President and CEO Roger Crandall.

• "We are excited to partner with Invesco to expand wealth investors' access to private markets," said Mike Freno, Chairman and CEO of Barings.

Bottom Line:

This transaction strengthens Invesco's balance sheet while creating new opportunities in private markets. The partnership with Barings aims to leverage both firms' expertise to deliver innovative solutions for U.S. wealth clients. This move reflects the growing importance of private market offerings and strategic collaborations in the asset management industry.

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