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MetLife Announces New Third-Party Asset Management Business

The insurance giant MetLife stated on Tuesday that it is building MetLife Investment Management, a third-party asset management business for institutional investors such as insurance companies, public and private pension plans and sovereign wealth funds.The business will build upon MetLife’s existing initiative in real estate, commercial mortgages and private bonds.

Metlife Investment Management will have two divisions: real estate and private capital. MetLife Real Estate Investors will manage investments for both institutional investments and MetLife, and will create strategy groups to take on real estate equity and debt separately. According to the company, MetLife originated more than $11 billion in 2011 and currently has a loan portfolio worth $43 billion. Metlife also manages a $10 billion global portfolio of direct equity real estate investments and has asset management offices in five countries.

According to the company, its private placement debt organization will be renamed MetLife Private Capital Investors, and will handle a variety of investments, including corporate private debt, project finance and infrastructure debt, as well as equity in renewable energy. MetLife reports stimulating $8.8 billion in private placements in 2011 for its general and third-party accounts. It currently manages a $50 billion portfolio in private investments globally.