Massachusetts Mutual Life Insurance Company and David L. Babson & Company Announce Merger Discussions

Strategic Insights -

Massachusetts Mutual Life Insurance Company and David L. Babson & Company, a leading investment counsel firm, have been engaged in merger discussions. The negotiations contemplate the acquisition of Babson by MassMutual and the combination of Babson's operations with MassMutual's investment management subsidiary, Concert Capital Management, Inc. If successful, the resulting entity would have combined assets under management in excess of $10 billion and operate as a separate and distinct entity under the David L. Babson & Company name.

Key Takeaways:

  • Massachusetts Mutual Life Insurance Company and David L. Babson & Company have been engaged in merger discussions.
  • The proposed acquisition would involve the combination of Babson's operations with MassMutual's Concert Capital Management, Inc.
  • The resulting entity would have combined assets under management in excess of $10 billion.
  • Concert Capital Management was formed by MassMutual in 1993 to provide asset management services to the institutional market.
  • David L. Babson & Company was established in 1940 and is one of the nation's oldest and most respected investment counsel firms.
  • Massachusetts Mutual Life Insurance Company is a leading provider of individual life insurance, annuities, employee group life, health, pension, and investment services.
  • As the parent company of several affiliates, MassMutual has $65.7 billion in assets under management.

Statistics:

  • Proposed combined assets under management: over $10 billion.
  • Assets under management of Concert Capital Management, Inc.: not specified.
  • Assets under management of David L. Babson & Company: not specified.
  • Age of David L. Babson & Company: established in 1940.
  • Age of Massachusetts Mutual Life Insurance Company: established in 1851.
  • Assets under management of Massachusetts Mutual Life Insurance Company: $65.7 billion.

Sources:

  • Press release issued by Massachusetts Mutual Life Insurance Company (no date specified)
  • Information provided by Eustis Walcott, Vice President of Massachusetts Mutual Life Insurance Company (no date specified)
  • Information provided by David Kirk, Executive Vice President of David L. Babson & Company (no date specified)
  • Massachusetts Mutual Life Insurance Company website (no date specified)