NYLIM Acquires McMorgan & Co

June 6, 2001 (PLANSPONSOR.com) - New York Life Investment Management Holdings LLC (NYLIM) will acquire McMorgan & Co, an investment management group for the Taft-Hartley multi-employer pension and benefit plans market, for an undisclosed amount.

McMorgan’s, investment management business will continue to be independently managed by its present professional staff under the name McMorgan & Company LLC, an entity established by NYLIM to hold the acquired assets of McMorgan.

McMorgan’s $27 billion in assets under management will be added to the $118 billion under NYLIM.

– Camilla Klein             editors@plansponsor.com