NU Online News Service, June 6, 1:55 p.m. – New York Life Investment Management Holdings L.L.C., Parsippany, N.J., a subsidiary of New York Life Insurance Company, has agreed to acquire the assets of McMorgan & Company, San Francisco.
The value of the deal was not disclosed.
McMorgan was founded in 1969 and now manages $27 billion in assets. It is the biggest independent investment manager for multiemployer Taft-Hartley pension and benefit plans, New York Life says.