Principal Asset Management

What Principal Asset Management does

Principal Asset Management operates the investment management business of Principal Financial Group (NASDAQ: PFG) through its Principal Global Investors brand, headquartered in Des Moines, Iowa. The firm serves institutional employers and retirement plan sponsors, institutional and high-net-worth investors, and individual investors via financial advisors across North America, Europe, Asia Pacific, Latin America, and the Middle East, supported by regulated subsidiaries in Ireland, the United Kingdom, Australia, and Switzerland.

The platform is structured as a full-stack integrated offering combining recordkeeping technology, investment manufacturing, digital advice tools, and workplace financial wellness into a single product ecosystem. The product surface spans Collective Investment Trusts, a 16-fund ETF platform (including the June 2026-launched Principal Fit fixed income suite with tickers RIZE, WDE, DWWN, UUPP, and IG), interval funds, separately managed accounts, U.S. mutual funds, LDI solutions, model portfolios, OCIO solutions, the Scholar's Edge 529 Plan, and real estate/private markets capabilities. Approximately $10.4 billion is managed across the ETF platform.

Revenue is generated primarily through asset-based management fees, platform services fees, and direct commercial real estate lending and equity activity (e.g., the Stream Data Centers minority stake with Apollo, the Rosamond Town Center development financing, the Market Meadows loan to Barings, and a Poland industrial acquisition via the LOG IN fund). Distribution operates through Cboe BZX-listed ETFs, a direct institutional sales force, a financial professional web portal, and wholesale fund distribution. The firm was recognized by Pensions & Investments as a Best Place to Work in Money Management for 14 consecutive years (2025).

Name

Principal Asset Management

Legal name

Principal Global Investors, LLC

Website

https://principalam.com

Company type

Private

Founded year

1879

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Principal Asset Management is the investment management arm of Principal Financial Group, providing integrated retirement, asset management, and benefits solutions to institutional employers and investors globally through ETFs, mutual funds, CITs, OCIO, and private markets products.

Ownership category

akta.pro rank

Product category

Asset Management

NAICS

Portfolio Management and Investment Advice (523940), Portfolio Management and Investment Advice (52394), Other Financial Investment Activities (5239)

SIC

Investment Advice (6282), Real Estate Dealers (For Their Own Account) (6532), Real Estate Agents & Managers (For Others) (6531)

akta.pro primary industry

Multi-Asset Solutions for Institutional (Pensions/Endowments/Sovereigns) (FSAAAJAJ)

akta.pro secondary industries

Institutional Consulting RIAs (OCIO/Endowments/Foundations/Pensions) (FSAAACAG), Sector & Industry Equity ETFs (FSAAAFAC), Real Estate Portfolio & Fund Management (Institutional/REIT/PE) (BPAJAMAJ)

Keywords

• Investment management services
• Asset management solutions
• Fixed income ETFs
• Retirement plan administration
• Separately managed accounts

Headquarters

HQ city

Des Moines

HQ country

United States

HQ region

North America

Offices5 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure

Revenue model

1. ETF Management Fees: Management fees on approximately $10.4 billion in ETF assets under management across 16 ETF offerings, including the Principal Fit fixed income suite and other investment products.
2. Projected Revenue Growth: Company projected revenue of $19.3 billion and earnings of $2.3 billion by 2029, reflecting growth trajectory and fee opportunities from expanded product suite.
3. Platform Services: Recordkeeping technology and platform services to employers for retirement plans, group benefits, and non-qualified deferred compensation, creating recurring revenue from enterprise clients.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels6 records

Core offering

Principal Asset Management is the investment management arm of Principal Financial Group, manufacturing and distributing a diversified suite of investment vehicles—including ETFs, U.S. Mutual Funds, Collective Investment Trusts, Interval Funds, Separately Managed Accounts, LDI Solutions, OCIO Solutions, Model Portfolios, and the Scholar's Edge 529 Plan—to institutional employers, retirement plan sponsors, and investors worldwide. The firm pairs investment manufacturing with proprietary recordkeeping technology and digital advice tools, delivering integrated retirement, asset management, and benefits solutions through direct institutional sales, exchange listings, and financial advisor channels.

Product overview

Principal Asset Management is a subsidiary of Principal Financial Group offering a diversified platform of investment products including Collective Investment Trusts (CITs), Exchange-Traded Funds (ETFs), Interval Funds, Separately Managed Accounts (SMAs), and U.S. Mutual Funds. The platform is structured as a unified investment management ecosystem with specialized solutions including LDI Solutions, Model Portfolios, OCIO Solutions, and the Scholar's Edge 529 Plan. The recent Principal Fit ETF Suite (launched June 2026) represents a fixed income-focused addition with five ETFs (RIZE, WDE, DWWN, UUPP, IG) targeting inflation protection, securitized credit, long duration, and collateralized loan obligations. The firm manages approximately $10.4 billion in ETF assets under management across 16 total ETF offerings, positioning the platform for direct competition with Fidelity, Vanguard, and BlackRock in the defined contribution market.

Differentiator

Problem solved

Functional benefit

Brands

• Principal Fit: Fixed income ETF suite comprising four newly launched ETFs focused on inflation protection, securitized credit, long duration, and collateralized loan obligations, plus an existing investment grade corporate ETF.
• Principal Fit ETF Suite (RIZE, WDE, DWWN, UUPP, IG)

Products and services

• Principal Fit ETF Suite A fixed income exchange-traded fund suite comprising five ETFs (RIZE, WDE, DWWN, UUPP, and IG) offering targeted exposure to inflation protection, securitized credit, long duration, and collateralized loan obligations. Designed to help investors navigate evolving interest rate, credit, and inflation dynamics with more targeted portfolio positioning tools.
• Exchange-Traded Funds (ETFs) A total of 16 ETF offerings spanning various asset classes, including the newly launched Principal Fit fixed income suite.
• Collective Investment Trusts (CIT) Collective investment trusts (CITs) offered as investment vehicles for retirement plans and institutional investors.
• Interval Funds Interval funds offered as alternative investment vehicles with periodic redemption opportunities.
• Separately Managed Accounts (SMA) Separately managed accounts offering customized portfolio management for individual investors.
• U.S. Mutual Funds U.S. mutual funds offered as traditional investment vehicles for retail and institutional investors.
• LDI Solutions Liability-driven investment solutions designed for pension plans and institutional investors to match assets against future liabilities.
• OCIO Solutions Outsourced chief investment officer solutions providing institutional investors with comprehensive investment management services.
• Scholar's Edge 529 Plan Education savings plan offering tax-advantaged investment options for future education expenses.
• Real Estate & Private Markets Real estate and private markets investment capabilities including direct property investments, REITs, and private equity exposure.

Quantifiable outcome

• Q1 2026 adjusted EPS up 13% year over year
• +2 more outcomes

Named customers5 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

Four partnerships are on record, tiered core and minor.

• Big V Property GroupcoreStrategic or Co-development Partner · 17 June 2026Big V Property Group and The Seitz Group partnered with Principal Asset Management for development financing of Rosamond Town Center, a 355,826-square-foot open-air retail center in Anna, Texas. Principal provided financing as part of a 750,000-square-foot complex development in Collin County.
• The Seitz GroupcoreStrategic or Co-development Partner · 17 June 2026The Seitz Group partnered with Big V Property Group and Principal Asset Management as development partners for Rosamond Town Center retail development in Anna, Texas.
• TheoreimminorStrategic or Co-development Partner · 13 April 2026Principal Asset Management acquired a 16,281 sqm industrial property in Kraków, Poland through a sale-and-leaseback transaction on behalf of the LOG IN fund, which is managed by Theoreim.
• ApollocoreStrategic or Co-development Partner · 3 November 2025Apollo-managed funds acquired a majority interest in Stream Data Centers, with Principal Asset Management acquiring a minority stake. SDC serves as a developer and operator of hyperscale data center campuses across the United States, positioning SDC within Apollo's digital infrastructure ecosystem.

Scale indicators7 records

Recent moves6 records

Expansion highlights5 records

Market position

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xx.com/Principal
• Facebookfacebook.com/PrincipalFinancial

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Subsidiaries6 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments4 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Principal Asset Management