Pacific Life Acquires U.S. Pension Advisory Group

According to a press release, the Pension Advisory Group delivers customized investment and risk management solutions to corporations, defined benefit (DB) pension plans, voluntary employees’ beneficiary associations, nuclear decommissioning trusts, and other institutional investors.

Through the purchase, Pacific Life seeks to expand the client-focused risk and investment advisory team, and will provide PGA with both the firm’s experience and range of products. The team will have access to a platform that allows them to offer their clients a range of pension risk and investment management alternatives, from on-balance sheet risk management to off-balance sheet plan terminations.

Pacific Global Advisors will remain headquartered in New York City, and will continue to be led by David Oaten and his management team – all JPMorgan Chase veterans who average more than 17 years of experience in corporate finance, actuarial services, asset-liability management, investment management, risk management, trustee services, capital markets, and derivative strategies.

“Pacific Global Advisors’ pioneering approach to advising pension plans is based on an asset-liability management model, which is consistent with the practices of Pacific Life and the life insurance industry,” said Khanh T. Tran, Pacific Life’s Chief Financial Officer and Chief Investment Officer, in the announcement.

Terms of the purchase agreement were not disclosed. Further information is available here.

-Sara Kelly