MetLife Investment Management Creates $ 6.4 Billion in Private Placement and Private Structured Credit Debt for H1 2021
WHIPPANY, New Jersey – (COMMERCIAL THREAD) – MetLife Investment Management (MIM), the institutional asset management business of MetLife, Inc. (NYSE: MET), today announced that it has issued $ 6.4 billion in private placement debt and private structured credit for the first half of 2021 in the context of 107 transactions. This included $ 1.2 billion in investments made on behalf of unaffiliated institutional clients. MIM’s total private placement debt and private structured credit assets under management were $ 102.0 billion as of June 30, 2021.1
Nancy Mueller Handal, Head of Private Fixed Income & Alternatives at MetLife Investment Management, said: “Market activity in the first half of the year was strong, with issuers strengthening their financial position and institutional investors seeking a wider range of investment opportunities.
The origination of MIM’s private placement for the first half of 2021 included $ 4.0 billion, $ 1.5 billion and $ 848 million of corporate, infrastructure and structured credit transactions, respectively, and has added 52 new credits to the portfolio.
Company origination has remained well diversified by industry, led by more than $ 650 million in investments in the global sports market where MIM’s Private Capital group has been a leading player for over 15 years. years. Sports-related investments were primarily associated with professional sports leagues and franchises in the United States and Europe. The corporate set-up also included $ 495 million in leasing transactions (CTL) backed and secured by real estate assets and lease flows from high-quality tenants operating in a diverse set of industry sectors. MIM generated around $ 360 million in green bond investments, which were issued on three US credits and four European credits. Funding from British and European issuers made a significant contribution in the first half of 2021, representing nearly 40% of total company origination.
The infrastructure package included more than $ 470 million in investments in federal, municipal and university energy efficiency projects. Investment in social housing and renewable energy projects, totaling more than $ 140 million, further supported MIM’s responsible investment and sustainability goals in sourcing private assets.
Private structured credit continued to see attractive direct investment opportunities with more than three quarters of origination linked to direct collaboration with issuers. The origination included, among other sectors, investments in C-PACE (Commercial Property Assessed Clean Energy) and social housing, reinforcing MIM’s commitment to responsible investment.
“We anticipate strong and continued activity in the second half of the year, and we look forward to supporting our community of issuers and investor clients with attractive and sustainable solutions that leverage our ability to discover and exploit exciting market opportunities, our global relationships and our in-depth industry and structuring expertise, ”said Mueller Handal.
About MetLife Investment Management
MetLife Investment Management, the institutional asset management business of MetLife, Inc. (NYSE: MET), is a global manager of fixed income, private equity and real estate investments providing tailored investment solutions to institutional investors around the world. MetLife Investment Management offers public and private pension plans, insurance companies, endowments, funds and other institutional clients a range of tailor-made investment and financing solutions that aim to achieve a range long-term investment goals and risk-adjusted returns over time. MetLife Investment Management has over 150 years of investment experience and, as of June 30, 2021, its total assets under management were $ 666.7 billion. 2
MetLife, Inc. (NYSE: MET), through its subsidiaries and affiliates (MetLife), is one of the world’s leading financial services companies. . Founded in 1868, MetLife operates in more than 40 markets around the world and occupies leading positions in the United States, Japan, Latin America, Asia, Europe and the Middle East. For more information, visit www.metlife.com.
The forward-looking statements contained in this press release, such as “commitment”, “continued”, “expect” and “‘Inc. described in its filings with the United States Securities and Exchange Commission. MetLife’s future results may differ, and it has no obligation to correct or update any of these statements.
1 At estimated fair value. Includes all corporate and infrastructure private placement debt and private structured credit investments managed by MIM.
2 Total Assets Under Management includes all of MetLife’s general and segregated account assets and unaffiliated / third party assets, at estimated fair value, managed by MIM.