METLIFE INVESTMENT MANAGEMENT AWARDED $1 BILLION-PLUS IN NEW MANDATES FROM RESOLUTION LIFE
New York, November 18, 2015
MetLife, Inc. (NYSE: MET) announced today that its investment management group has been awarded an investment mandate of more than $1 billion from Resolution Life, a specialist life insurance company based in Stamford, Conn.
MetLife Investment Management, which marked its third anniversary this month, will take over management of an existing portfolio of corporate private placements with a value of approximately $700 million. The deal with Resolution Life includes a further commitment for new originations of corporate private placement transactions.
“We are very proud of MetLife Investment Management and believe it is off to a great start in its first three years of operation,” said Steven J. Goulart, executive vice president and chief investment officer for MetLife. “This new mandate underscores our commitment to meeting our customers’ needs for expertise in investment strategies where MIM has had a long history of investing. We are pleased to be partnering with Resolution Life to help them manage their investment needs in private assets.”
MetLife Investment Management currently has almost $20 billion of total commitments from various asset classes including real estate equity, real estate debt and private placements.
“We were happy to select MetLife Investment Management and look forward to building our investment management relationship with MIM,” said Karl Chappell, Managing Director of Resolution Life’s Investment business.
MetLife is a leader in the private placement marketplace, managing a portfolio of $56 billion (largely composed of MetLife’s own assets) that includes $40.3 billion in corporate private placements and $9.5 billion in infrastructure debt. Private capital is an important part of MetLife’s long-term investment strategy.
MetLife, Inc. (NYSE: MET), through its subsidiaries and affiliates (“MetLife”), is one of the largest life insurance companies in the world. Founded in 1868, MetLife is a global provider of life insurance, annuities, employee benefits and asset management. Serving approximately 100 million customers, MetLife has operations in nearly 50 countries and holds leading market positions in the United States, Japan, Latin America, Asia, Europe and the Middle East. For more information, visit www.metlife.com.
About MetLife Investment Management (MIM)
MetLife Investment Management (“MIM”), MetLife, Inc.’s investment management business, has more than 800 investment professionals (including support staff) located around the globe. MIM includes (i) MetLife Real Estate Investors, the group responsible for investments in real estate, (ii) MetLife Private Capital Investors, the group responsible for investments in corporate private placements, infrastructure debt and other private transaction activities, and (iii) MetLife Index Strategies, the group responsible for index investing.