MetLife Investment Management Combines Fixed Income, Private Capital Offerings, Names Driscoll to Lead Unified Structure
23 Aprile 2024 - 2:00PM
Business Wire
Brian Funk to Lead MIM’s Private Capital
Team
MetLife Investment Management (MIM), the institutional asset
management business of MetLife, Inc. (NYSE: MET), today announced
that it has brought together its public fixed income and private
capital offerings into a unified structure led by Jude Driscoll,
who was named MIM’s global head of Fixed Income and Private
Capital.
The evolved structure will enhance MIM’s best-in-class public
and private credit capabilities to better create investment
solutions and meet the fixed income needs of asset owners. MIM will
be able to offer a differentiated set of liquid and illiquid credit
investment solutions seamlessly through the platform.
“MIM is accelerating its efforts to offer a solutions-oriented
approach to investing, and these changes aid that by creating a
dynamic credit offering across a full range of investment
strategies,” said John McCallion, MetLife’s chief financial officer
and head of MetLife Investment Management. “Jude is a world-class
investor and leader focused on delivering client solutions with
experience building successful platforms in both public fixed
income and private capital.”
Driscoll was previously global head of Public Fixed Income at
MIM. He joined the company in 2017 after MIM acquired Logan Circle
Partners, where he was founder, chief executive officer and chief
investment officer. Prior to Logan Circle, Driscoll was president
and chief executive officer of Delaware Investments.
Brian Funk will assume leadership of MIM’s Private Capital team,
reporting to Driscoll. Funk, who has over 25 years of experience in
credit research and investing, previously led global credit
research in MIM’s Public Fixed Income team covering corporate,
municipal and sovereign credit, as well as sustainable fixed income
strategies and special situations. Ian Bowman, who was previously a
sector leader on the Global Credit Research team with a focus on
consumer and healthcare credit, will succeed Funk as head of Credit
Research in MIM’s Public Fixed Income team.
“We are channeling the deep expertise and resources that already
exist within MIM to build a diverse and deep credit offering that
can deliver value to investors across market cycles,” Driscoll
said. “MIM has long had industry leading capabilities in public
fixed income and private capital. Brian will be an outstanding
leader for our Private Capital team, working closely with me to
meet the evolving needs of clients.”
MIM’s Private Capital team originated $10.4 billion in private
placement debt and private structured credit across 212
transactions in 2023. MIM’s total private capital assets under
management stood at $136.2 billion as of December 31, 2023.1
“MIM is one of the industry’s premier originators of private
assets, and deep credit analysis is fundamental to our fixed income
and private capital offerings,” Funk said. “We are well positioned
to build on our leadership position in sourcing strong credits with
robust structures for investors who are increasingly seeking the
attractive yields and portfolio diversification of private
capital.”
MIM’s Public Fixed Income team has $320.8 billion in assets
under management across long-duration, short-intermediate duration,
corporate, core, emerging market, high yield, bank loans and
municipal bonds, as well as liability-driven investment
strategies.
About MetLife Investment Management
MetLife Investment Management, the institutional asset management
business of MetLife, Inc. (NYSE: MET), is a global public fixed
income, private capital and real estate investment manager
providing tailored investment solutions to institutional investors
worldwide. MetLife Investment Management provides public and
private pension plans, insurance companies, endowments, funds and
other institutional clients with a range of bespoke investment and
financing solutions that seek to meet a range of long-term
investment objectives and risk-adjusted returns over time. MetLife
Investment Management has over 150 years of investment experience
and, as of December 31, 2023, had over $600 billion in total assets
under management.2
About MetLife MetLife, Inc. (NYSE:
MET), through its subsidiaries and affiliates (“MetLife”), is one
of the world’s leading financial services companies, providing
insurance, annuities, employee benefits and asset management to
help individual and institutional customers build a more confident
future. Founded in 1868, MetLife has operations in more than 40
markets globally and holds leading positions in the United States,
Asia, Latin America, Europe and the Middle East. For more
information, visit www.metlife.com.
Forward-Looking Statements The
forward-looking statements in this news release, using words such
as “continue” and “seek,” are based on assumptions and expectations
that involve risks and uncertainties, including the “Risk Factors”
MetLife, Inc. describes in its U.S. Securities and Exchange
Commission filings. MetLife’s future results could differ, and it
does not undertake any obligation to publicly correct or update any
of these statements.
Endnotes 1At estimated fair value.
Includes all corporate and infrastructure private placement debt
(collectively, private placement debt) and private structured
credit investments managed by MIM.
2Total assets under management is comprised of all MetLife
general account and separate account assets and unaffiliated/third
party assets, at estimated fair value, managed by MIM.
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version on businesswire.com: https://www.businesswire.com/news/home/20240423449849/en/
For Media: Dave Franecki (973) 264-7465
dave.franecki@metlife.com
Shree Dhond (646) 722-6531 mim@dlpr.com
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