NU Online News Service, July 30, 2004, 1:23 p.m. EDT
A unit of New York Life Insurance Company has agreed to acquire a fixed-income asset management business from Pareto Partners, London.[@@]
MacKay Shields L.L.C., the New York Life unit, will be getting a business that manages about $3 billion in high-rated and low-rated debt securities.
The price of the deal and other terms were not available.