MetLife Investment Management Closes $1.2 Billion Private Equity Partners Fund II Through Managed Transaction
08 Luglio 2024 - 2:15PM
Business Wire
New fund extends MIM’s private equity platform
for institutional investors
MetLife Investment Management (MIM), the institutional asset
management business of MetLife, Inc. (NYSE: MET), today announced
the launch of its second private equity fund for institutional
clients in concert with the closing of approximately $1.2 billion
in commitments to a new MIM-managed fund-of-funds.
The new fund, MetLife Investment Private Equity Partners II,
purchased a portfolio of approximately $860 million of private
equity and equity co-investment interests with funded and unfunded
commitments totaling $975 million from MetLife affiliates as part
of a managed secondary sale transaction anchored by funds managed
by Lexington Partners L.P., which served as lead investor.
“MIM continues to expand its client solutions with this new
fund, which leverages our deep private equity investment
capabilities and further demonstrates our leadership in investing
in private markets,” said John McCallion, MetLife’s chief financial
officer and head of MetLife Investment Management. “The strong
long-term performance of our private equity investments drove the
creation of this differentiated investment solution.”
MIM syndicated a portion of the transaction to other
unaffiliated institutional clients. MIM intends to deploy
approximately $250 million on behalf of the fund on new private
equity opportunities.
The portfolio of assets acquired by the fund consists of nearly
50 private equity and equity co-investments diversified globally.
The sale follows strong returns for the MetLife general account’s
private equity portfolio, which held $14.3 billion in private
equity assets as of March 31, 2024.
“We are thrilled to partner with MIM on this innovative
transaction,” said Wil Warren, partner and president of Lexington
Partners. “MIM Private Equity Partners II represents a
high-quality, diversified portfolio which we believe stands out in
today’s secondary market, and we look forward to working with MIM
on this investment going forward.”
MIM’s private equity team has deployed over $20.0 billion of
alternative investments between 2010 and 2023. Evercore served as
advisor to MIM for this transaction.
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 March 31, 2024, had $593.7 billion in total assets under
management.1
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.
About Lexington Partners Lexington
Partners is one of the world’s largest and most successful managers
of secondary private equity and co-investment funds. Lexington
helped pioneer the development of the institutional secondary
market over 30 years ago and created one of the first independent,
discretionary co-investment programs 26 years ago. Lexington has
total capital in excess of $76 billion and has acquired over 5,000
interests through more than 1,000 transactions. Lexington’s global
team is strategically located in major centers for private equity
and alternative asset investing across North America, Europe, Asia,
and Latin America. Lexington is the global secondary private equity
and co-investments specialist investment manager of Franklin
Templeton. Additional information can be found at
www.lexingtonpartners.com.
Forward-Looking Statements The
forward-looking statements in this news release, using words such
as “continue,” “intend,” “going forward” 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 1Total 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. See MetLife’s total assets under
management fact sheet for the quarter ended March 31, 2024 for
further information.
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version on businesswire.com: https://www.businesswire.com/news/home/20240708915514/en/
For Media: Dave Franecki +1 (973) 264-7465
dave.franecki@metlife.com
Grafico Azioni MetLife (NYSE:MET)
Storico
Da Nov 2024 a Dic 2024
Grafico Azioni MetLife (NYSE:MET)
Storico
Da Dic 2023 a Dic 2024
