American International Group (AIG) announced that it is in the process of merging its Commercial Asset Finance (CAF) department into the Private Placements Group (PPG) within AIG Investments.

“To better meet the needs of its clients and to ensure greater efficiency, AIG is in the process of merging CAF into PPG,” said William N. Dooley, executive vice president, AIG Investments. “AIG is deeply committed and will continue to build out its successful direct origination platform through PPG, which manages private fixed income investments across multiple asset classes, including Corporates, Project Finance, Asset Backed Securities and Structured Leases. CAF’s integration into PPG is a natural evolution of the business model and will enhance and expand the strong relationships we have with our clients.”

The AIG Commercial Asset Finance group was founded in 2004 as AIG Commercial Equipment Finance, and provides equipment finance and leasing to a wide variety of industries, including transportation, construction, energy, manufacturing, oil and gas, food services, and healthcare. The organization will continue to serve all of those markets, both domestically and internationally, on both a secured and unsecured basis.

American International Group is an international insurance organization serving customers in more than 130 countries.