Invesco to repurchase $1B preferred stock at 15% premium; forms Barings partnership

Invesco Ltd.

Repurchase of $1B of 5.9% Series A Preferred from MassMutual at 15% premium; funded by debt, close expected May 2025.
Transaction expected to be earnings accretive from 2H2025; quarterly dividend raised from $0.205 to $0.210 per share.
Invesco and Barings ($442B AUM) launch U.S. Wealth private credit partnership; MassMutual commits $650M seed capital.
MassMutual remains 18.2% common shareholder with $3B preferred still outstanding; agreement allows future repurchases.
MassMutual's prior commitments to Invesco exceed $3B seed/co-investment and $9B managed assets through its platforms.

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