Debevoise & Plimpton LLP is advising New York Life Investments in its definitive agreement to acquire full ownership of Dexia Asset Management for €380 million. Dexia Asset Management has approximately US$100 billion in assets under management, and is a leading international asset manager. With management centers in Brussels, Paris, Luxembourg and Sydney, the company offers global fixed income, global equities, alternatives and asset allocation products across retail and institutional channels in 11 locations covering 25 countries. The transaction, which remains subject to the approval of regulatory authorities, is expected to close on or about December 31, 2013.

New York Life Investments, a wholly owned subsidiary of New York Life Insurance Company, is a leading investment management firm, with $388 billion in assets under management, as of July 31, 2013. New York Life Investments ranks among the world's largest asset managers and through its multiple-boutique investment structure, offers access to an array of fixed income, equities and alternative products for institutional and retail clients. New York Life Investments is also a leading provider of retirement plans for corporations, multi-employer trusts, and individuals, and is recognized as one of the nation's top providers of guaranteed products to both the qualified and non-qualified markets.

The Debevoise team is led by partner William D. Regner and includes partners Vadim Mahmoudov and Pierre Clermontel and associates Jonathan L. Lubin, Charles-Philippe Letellier, Najib Sail, Roxane Castro, Robert A. Williams Jr. and Munir Zilanawala.