The Carlyle Group Completes Acquisition of Metropolitan Real Estate Equity Management
November 04 2013 - 8:00AM
Business Wire
Acquisition Continues Growth of Carlyle’s
Solutions Platform
Global alternative asset manager The Carlyle Group (NASDAQ: CG)
today announced that it has closed its acquisition of Metropolitan
Real Estate Equity Management, LLC, a global real estate
multi-manager with more than $2.6 billion in capital commitments.
Equity for the transaction came from Carlyle’s balance sheet.
Financial terms were not released.
Metropolitan is now part of Carlyle’s Solutions platform, which
also includes AlpInvest, the $48 billion private equity fund of
funds business, bringing Solutions AUM to $50.6 billion.
Metropolitan’s management team, led by David Sherman, remains in
place. In addition to his role as Co-Chief Investment Officer, Mr.
Sherman is now Head of Real Estate within the Solutions platform.
Mr. Sherman and his team will continue to run the Metropolitan
investment committee and to make all investment decisions.
Jacques Chappuis, Carlyle Managing Director and Head of the
Solutions group, said, “Metropolitan is a proven performer with
seasoned management. Their addition to our Solutions platform
strengthens our ability to serve the evolving and complex needs of
our investors. We are pleased to welcome David Sherman and his team
to Carlyle.”
David Sherman, President and Co-Chief Investment Officer of
Metropolitan, said, “We look forward to this new chapter for
Metropolitan. Carlyle’s global scale, collaborative approach and
investor support services will bolster our ability to serve our
fund investors.”
Established in 2002 and based in New York City, Metropolitan is
one of the largest managers of indirect investments in global real
estate. Since inception, Metropolitan has raised more than $2.6
billion across 16 commingled funds of funds with investments in
more than 80 managers. Its more than 180 real estate fund
investments include new partnerships, secondary interests and
co-investments – in the U.S., Europe, Asia and Latin America. The
firm has 40 employees with five offices in the U.S., Europe and
Asia.
About The Carlyle Group
The Carlyle Group (NASDAQ: CG) is a global alternative asset
manager with $180 billion of assets under management across 118
funds and 81 fund of funds vehicles as of June 30, 2013. Carlyle's
purpose is to invest wisely and create value on behalf of its
investors, many of whom are public pensions. Carlyle invests across
four segments – Corporate Private Equity, Real Assets, Global
Market Strategies and Global Solutions – in Africa, Asia,
Australia, Europe, the Middle East, North America and South
America. Carlyle has expertise in various industries, including:
aerospace, defense & government services, consumer &
retail, energy, financial services, healthcare, industrial,
technology & business services, telecommunications & media
and transportation. The Carlyle Group employs more than 1,400
people in 34 offices across six continents.
Web: www.carlyle.comVideos: www.youtube.com/onecarlyleTweets:
www.twitter.com/onecarlylePodcasts:
www.carlyle.com/about-carlyle/market-commentary/481
About Metropolitan Real Estate Equity Management
Founded in 2002, Metropolitan Real Estate Equity Management is a
privately owned, registered investment advisor with more than $2.6
billion in capital commitments across 22 partnerships (16 funds of
funds and six feeder funds), representing a wide range of clients,
including institutional investors, endowments and foundations and
high net worth investors. Metropolitan constructs and manages
vintage year U.S., non-U.S., global and custom portfolios, with a
focus on private, indirect investments in value-add and
opportunistic real estate. The firm’s investment team is comprised
of nine senior members with more than 200 years of combined
experience. Metropolitan has offices in New York, San Francisco,
Boston, London, and Hong Kong.
Web: http://mreem.com/
The Carlyle GroupElizabeth Gill,
+1-202-729-5385Elizabeth.gill@carlyle.com
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