Invesco and MassMutual launch strategic partnership focused on private markets

What's happening: 

Invesco and MassMutual's Barings subsidiary are forming a new strategic product and distribution partnership targeting private markets solutions for U.S. wealth management clients, alongside a $1 billion preferred stock repurchase agreement that strengthens Invesco's balance sheet.

The key moves:

• Invesco and Barings will create joint private credit solutions for wealth channels, initially backed by $650 million from MassMutual

• Invesco will buy back $1 billion of its $4 billion preferred stock from MassMutual, with potential for future repurchases

• Invesco is increasing its quarterly dividend from $0.205 to $0.210 per share, signaling financial confidence

Key players:

• Andrew Schlossberg - President and CEO, Invesco Ltd.

• Roger Crandall - Chairman, President and CEO, MassMutual

• Mike Freno - Chairman and CEO, Barings

By the numbers:

• $1.84 trillion in assets managed by Invesco as of March 31, 2025

• $442+ billion in assets managed by Barings as of March 31, 2025

• 18.2% - MassMutual's ownership stake in Invesco's common shares

Key quotes:

• "We believe our complementary capabilities will create a formidable combination helping us deliver unique income solutions for the U.S. Wealth segment." - Andrew Schlossberg, Invesco

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

• "We are excited to partner with Invesco to expand wealth investors' access to private markets." - Mike Freno, Barings

The wrap: 

This strategic partnership represents a significant evolution in the relationship between these financial powerhouses, combining Invesco's distribution strength with Barings' alternative asset expertise to create differentiated private market solutions for wealth clients while simultaneously improving Invesco's capital structure.