Private debt portfolio grows to $70.6 billion
March 21, 2019 — WHIPPANY, N.J.–(BUSINESS WIRE)–MetLife Investment Management (MIM), MetLife, Inc.’s (NYSE: MET) institutional asset management business, originated $14.7 billion in private debt in 2018 across its corporate private placements and infrastructure platforms, a record amount for MIM. This included $4.7 billion of investments on behalf of MIM’s unaffiliated/third-party institutional investors.
John Wills, global head of private debt origination, MetLife Investment Management, said: “We outpaced expectations in 2018 as issuers increasingly turned to private debt solutions to diversify their financing sources. Looking forward, our outlook remains positive as issuers continue to seek ease of execution and certainty supported by strategic, long-term partnerships.”
MIM’s private debt origination for 2018 included $9.6 billion in corporate private placement transactions, representing a 30 percent increase compared with 2017. This increase was driven by strong deal origination in the U.S., Europe and Australia. MIM’s growth was further bolstered by more than $1.7 billion in investments across new sub-sectors within the transportation, financial and healthcare industries.
MIM also originated $5.1 billion through its infrastructure debt platform. This result represented a 34 percent increase year over year, driven by mandates across the transportation, power and energy, and social infrastructure sectors globally, among others. MIM’s infrastructure debt portfolio also continued to support MetLife’s broader social and environmental goals across the globe.
At 31 December 2018, MIM’s total private debt portfolio stood at $70.6 billion, including $24.0 billion of non-proprietary assets managed on behalf of unaffiliated/third party clients.
About MetLife Investment Management
MetLife Investment Management, MetLife, Inc.’s institutional asset management business, is a global fixed income and real estate manager providing differentiated investment solutions to institutional investors worldwide. MetLife Investment Management 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. 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 public fixed income strategies, private placements, and commercial real estate debt and equity investing, among others. For more information, visit https://investments.metlife.com.
About MetLife, Inc.
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.