WHIPPANY, NJ–(BUSINESS WIRE)–MetLife Investment Management (MIM), the institutional asset management business of MetLife, Inc. (NYSE: MET), today announced that it has issued $15.6 billion in private placement debt and private structured credit in 247 transactions in 2021. This included $3.0 billion of investments were created on behalf of unaffiliated institutional clients. MIM’s total private equity assets under management were $103.7 billion as of December 31, 2021.1
MIM’s private placement origination for 2021 included $8.4 billion, $5.1 billion and $2.1 billion of corporate credit, infrastructure and structured credit transactions, respectively, and has added 104 new credits to the portfolio.
Company formation in 2021 spanned a wide range of industries and was led by investments in financial services, REITs, transportation and sports finance.
Jennifer Potenta, Head of Corporate Private Placements at MIM, said: “The deep industry knowledge, structuring expertise and relationships nurtured by the industry credit analysts in our group have helped facilitate strong origination volume. in end markets where we have seen attractive value.
Company origination highlights included $2.8 billion in funding for UK and European issuers, over $650 million in healthcare and life sciences investments – with a loan directly placed multi-currency contracts totaling nearly $250 million – and more than $600 million in tenant credit leasing transactions across 10 offerings.
John Tanyeri, Head of Infrastructure/Project Finance at MIM, said: “Infrastructure creation rebounded strongly in 2021 as pandemic concerns continued to ease and project sponsors refocused on the activity of new agreements.
Infrastructure build-up was led by $1.0 billion of investments in transportation-related projects and assets. In addition, origination associated with UK and European issuers was particularly strong, accounting for $1.7 billion, or one-third of total investment. Finally, investments in energy-saving contracts, renewable energies and social housing and infrastructure projects accounted for approximately $1.9 billion of origination, further supporting MIM’s focus on durability.
Private structured credit continued to find attractive opportunities throughout 2021 by focusing on investments not commonly found in public markets, such as alternative asset finance and housing-backed transactions social.
“Given global economic growth, we expect capital markets to remain active,” said Nancy Mueller Handal, head of Private Fixed Income & Alternatives at MIM. “Our team continues to be well positioned to source, structure and execute financing opportunities in support of our issuers and clients.”
About MetLife Investment Management
MetLife Investment Management, the institutional asset management business of MetLife, Inc. (NYSE: MET), is a global public fixed income, private equity and real estate investment manager that provides investment solutions tailored 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 tailored investment and financing solutions that aim to meet a range of long-term investment goals and risk-adjusted returns over time. MetLife Investment Management has over 150 years of investment experience and, as of December 31, 2021, had $669.0 billion in assets under management. 2
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 individual and institutional clients build a confident future. Founded in 1868, MetLife is present in more than 40 markets worldwide and holds 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 “continue”, “expect”, “remain”, “seek” and “well positioned”, are based on assumptions and expectations that involve risks and uncertainties, including “Risk Factors,” MetLife, Inc. describes in its filings with the U.S. Securities and Exchange Commission. MetLife’s future results could 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 (collectively, private placement debt) and private structured credit investments managed by MIM.
2 Total assets under management include all MetLife general account and segregated account assets and unaffiliated/third party assets, at estimated fair value, managed by MIM.