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Invesco CEO details big Atlanta expansion: Midtown is ‘booming’

As Invesco Ltd. finalized its highly publicized $5.7 billion acquisition of Oppenheimer Funds Inc. last month, the Atlanta-based global asset management giant was quietly working on another important deal.

Invesco was talking with fellow financial giant MetLife about a new home for Invesco’s rapidly growing headquarters in Atlanta. The two companies reached an agreement that Invesco would stay and expand in Midtown, where it will put nearly 1,200 employees on the top floors of MetLife’s planned 26-story office tower near Atlantic Station.

“It wasn’t well known,” Invesco President and CEO Martin Flanagan said in a June 3 interview with Atlanta Business Chronicle, referring to Invesco’s agreement with MetLife Investment Management.

The fixed income and real estate manager is funding the development of the new home for Invesco — a nearly 9-acre mixed-use project at 17th, Spring and West Peachtree streets. Invesco is expected to move into the project, officially named Midtown Union, in 2022. The decision came relatively quickly, Flanagan acknowledged.