WHIPPANY, NJ – (BUSINESS WIRE) – MetLife Investment Management (MIM), the institutional asset management business of MetLife, Inc. (NYSE: MET), announced today that it has raised $ 15.7 billion in private placement debt and privately structured loans for 215 transactions in 2020 Has. This included $ 3.6 billion of investments made on behalf of third party institutional clients. This origination activity, which added 85 new loans, helped increase MIM’s total private placement debt and structured loan portfolio to $ 102.1 billion1 as of December 31, 2020.
“During a year in which the pandemic has affected companies around the world, we have continued to provide timely, bespoke financing solutions for issuers that provide liquidity and financial security during difficult times,” said Nancy Mueller Handal, Head of Private Fixed Income & Alternatives at MIM.
MIM’s 2020 private placement included $ 9.0 billion, $ 3.7 billion and $ 3.0 billion in corporate, infrastructure and structured credit transactions. Notably, nearly $ 4.0 billion of this creation was completed in March and April last year.
John Wills, Global Head of Private Placements at MIM said, “Our strong corporate relationships and ability to raise attractive financing and investment opportunities for our customers around the world were key factors in a strong year for MIM. During the worst of the pandemic-induced fault, MIM continued to work closely with new and existing issuers to provide solutions that would enable companies and stock sponsors to reduce debt, increase liquidity and operating money, and ultimately create a financial buffer against the uncertainties created by the pandemic. ”
Scott Waterstredt, Head of Private Structured Credit at MIM added, “The macroeconomic uncertainty due to the pandemic effectively closed the broadly syndicated, asset-backed market for a period of time during the year. The privately structured credit team worked with a number of asset owners to provide financing and liquidity solutions that were attractive to both the asset owner and our clients. ”
The start-up was well diversified across industries, led by investments in the Professional Services and Healthcare & Life Sciences sectors, which together accounted for around a quarter of the $ 9.0 billion. The creation of the infrastructure was driven by renewable energy transactions, which accounted for about a third of the $ 3.7 billion creation to support sustainability goals. Private structured loan investments have focused on residential mortgage and alternative wealth finance transactions.
Mueller Handal concluded, “Looking ahead, we will continue to support issuers and investors with solutions that will ensure they survive the later stages of the pandemic, and we look forward to providing expansion capital for new opportunities as global economic growth emerges after the Pandemic resumes. ”
About MetLife Investment Management
MetLife Investment Management, the institutional asset management business of MetLife, Inc. (NYSE: MET), is a global fixed income, private capital and real estate investment manager providing tailored investment solutions to institutional investors worldwide. MetLife Investment Management offers public and private pension plans, insurance companies, foundations, funds and other institutional clients a range of bespoke investment and financing solutions designed 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 had total assets of $ 659.6 billion as of December 31, 20202.
MetLife, Inc. (NYSE: MET), through its subsidiaries and affiliates (MetLife), is a leading global financial services company providing insurance, annuity, employee benefits, and asset management to help its individual and institutional clients find their way around Finding your way around the changing world. MetLife was founded in 1868 and operates in more than 40 markets worldwide. The company is a leader in the United States, Japan, Latin America, Asia, Europe and the Middle East. More information is available at www.metlife.com.
Forward-looking statements in this press release such as “continue”, “ensure”, “look ahead”, “look ahead”, “continue”, “seek” and “will” are based on assumptions and expectations that involve risks and uncertainties, including the “Risk Factors” as MetLife, Inc. describes in its filings with the US Securities and Exchange Commission. MetLife’s future results could differ and there is no obligation to correct or update these statements.
1 At the estimated fair value. Includes all private placement debt managed by MIM for companies and infrastructure as well as privately structured loan investments.
2 The total assets managed by MIM comprise all assets managed by MIM in the general MetLife account and the separate account as well as the assets of unaffiliated companies / third parties at the estimated fair value.