MetLife Investment Management originates record $7.0 billion in private placement debt for 1H 2018
September 21 2018 - 12:44PM
Business Wire
MetLife Investment Management (“MIM”), MetLife, Inc.’s (NYSE:
MET) institutional asset management platform, announced today it
originated a record $7.0 billion in private placement debt for the
first half of 2018, a 45% increase over the same six-month period
in 2017. This included $2.3 billion of investments originated on
behalf of unaffiliated/third-party clients.
“Investment activity outpaced expectations through the first
half of the year, and the strong momentum has continued,” said John
Wills, global head of private debt origination for MIM.
“Origination continues to demonstrate MIM’s strong private debt
platform, supported by dedicated industry specialists across the
globe. MIM’s private debt team focuses on long-term partnerships
that enable us to deliver bespoke private debt solutions to
issuers.”
MIM’s private debt origination included $5.3 billion in
corporate private placement transactions and $1.7 billion in
infrastructure and project finance debt transactions. Corporate
debt transactions spanned a broad range of industries including
industrials, utilities, consumer products, REITs, aviation and
sports finance. MIM’s infrastructure platform continued to be a
market leader in long-term global infrastructure private debt
lending with activity focused on core infrastructure assets,
including airports, ports, railroads, renewable power and social
infrastructure.
Origination activity grew MIM’s total private debt portfolio to
$67.2 billion at 30 June, 2018[1]. MIM’s private debt portfolio is
globally diversified, with 65% of the portfolio in North America,
followed by 21% in Europe, 8% in Australia and the remaining 6% in
other jurisdictions, including a growing presence in Latin America.
MIM’s global reach, its long-standing market relationships, and the
ability to provide customized debt solutions including fixed and
floating-rate debt as well as multi-currency financing options
supported the group’s record first half.
Wills added: “In our view, the pipeline through the end of the
year looks solid. MIM’s focus will continue to be on providing
customized financing options for our issuers.”
[1] Represents the estimated fair value of privately-placed and
certain public securities managed by MIM’s Private Placement Unit
for both MetLife’s general account and unaffiliated/third-party
clients. The portion of such securities managed for MetLife’s
general account and included in its consolidated financial
statements was $44.5 billion, at estimated fair value, at June 30,
2018.
About MetLife Investment
Management
MetLife Investment Management, MetLife, Inc.’s institutional
asset management platform, provides institutional investors
including corporate and government pension plans, insurance
companies and other financial institutions with long-term public
and private investment and financing solutions. With operations in
the Americas, Asia and the Europe, Middle East & Africa (EMEA)
regions, MetLife Investment Management manages assets for
third-party institutional investors, separate accounts and MetLife,
Inc.’s general account. MetLife Investment Management leverages a
disciplined credit research and underwriting process to provide
institutional investors with asset origination and acquisition
opportunities and proprietary risk management analytics across
traditional fixed income strategies, commercial real estate debt
and equity investing, agricultural financing, and private
placements, among others. For more information, visit
www.metlife.com/investments.
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 its individual and
institutional customers navigate their changing world. Founded in
1868, MetLife has operations in more than 40 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.
Forward-Looking Statements
This news release may contain or refer to forward-looking
statements. Forward-looking statements give expectations or
forecasts of the future using terms such as “anticipate,”
“estimate,” “expect,” “project,” “intend,” “plan,” “believe,”
“will,” and other terms tied to future periods. Results could
differ materially from those expressed or implied in the
forward-looking statements. Forward-looking statements are
based on assumptions and expectations. They involve risks and
uncertainties, including the “Risk Factors” MetLife, Inc. describes
in its U.S. Securities and Exchange Commission filings. The company
has no obligation to correct or update any forward-looking
statement. Parts of this news release may include additional
information on forward-looking statements.
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MetLife Investment ManagementJames Murphy, (973) 355-4673
MetLife (NYSE:MET)
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