American International Group, Inc. (NYSE: AIG) today 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 buildout 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, Inc., and provides equipment finance and leasing to a wide variety of industries, including transportation, construction, energy, manufacturing, oil and gas, food services, and healthcare to name a few. The organization will continue to serve all of those markets, both domestically and internationally, on both a secured and unsecured basis.

American International Group, Inc. (AIG) is a leading international insurance organization serving customers in more than 130 countries. AIG companies serve commercial, institutional, and individual customers through one of the most extensive worldwide property-casualty networks of any insurer. In addition, AIG companies are leading providers of life insurance and retirement services in the United States.