MetLife Investment Management Originates $15.6 Billion in Private Placement Debt and Private Structured Credit In 2021

Rhea-AI Summary

MetLife Investment Management (MIM) reported $15.6 billion in private placement debt and structured credit originated in 2021 through 247 transactions. Notably, $3.0 billion was generated for unaffiliated clients. MIM's total assets under management in private placements reached $103.7 billion by year-end 2021. Key origination included $8.4 billion in corporate finance, $5.1 billion in infrastructure, and $2.1 billion in structured credit. MIM's investments emphasized sustainability, with $1.9 billion in renewable energy and social projects.

Positive

• $15.6 billion in private placement debt originated in 2021
• Total private placement assets under management reached $103.7 billion
• $8.4 billion corporate finance and $5.1 billion in infrastructure transactions
• Investment in sustainability areas, including $1.9 billion for renewable energy projects

Negative

• None.

WHIPPANY, N.J.--(BUSINESS WIRE)--

MetLife Investment Management (MIM), the institutional asset management business of MetLife, Inc. (NYSE: MET), today announced it originated $15.6 billion in private placement debt and private structured credit across 247 transactions in 2021. This included $3.0 billion of investments originated on behalf of unaffiliated institutional clients. MIM’s total private placement assets under management stood at $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 in corporate, infrastructure, and structured credit transactions, respectively, and added 104 new credits to the portfolio.

Corporate origination in 2021 extended across a broad range of industries and was led by investment in financials, REITs, transportation and sports finance.

Jennifer Potenta, Head of Corporate Private Placements at MIM, noted: “The deep industry knowledge, structuring expertise and relationships maintained by our group’s sector-specific credit analysts helped facilitate strong origination volume in end markets where we saw attractive value.”

Corporate origination highlights included $2.8 billion in financing for U.K. and European issuers, over $650 million of investment into the Healthcare and Lifesciences sector – featuring a directly-placed, multi-currency loan totaling nearly $250 million – and in excess of $600 million in credit tenant lease transactions across 10 offerings.

John Tanyeri, Head of Infrastructure/Project Finance at MIM, noted: “Infrastructure origination rebounded strongly in 2021 as pandemic concerns continued to ease and project sponsors refocused on new deal activity.”

Infrastructure origination was led by $1.0 billion of investment in transportation-related projects and assets. Additionally, origination associated with U.K. and European issuers was particularly strong, representing $1.7 billion, or one-third, of total investment. Lastly, investment in energy savings contracts, renewable power, and social housing and infrastructure-related projects accounted for approximately $1.9 billion of origination, further supporting MIM’s sustainability focus.

Private structured credit continued to find attractive opportunities throughout 2021 by focusing on investments not commonly found in public markets, such as alternative asset financing and transactions backed by low-income housing.

“Given global economic growth, we expect the 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 on 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 capital and real estate investment manager providing tailored investment solutions to institutional investors worldwide. MetLife Investment Management provides public and private pension plans, insurance companies, endowments, funds and other institutional clients with a range of bespoke investment and financing solutions that seek to meet a range of long-term investment objectives 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 total assets under management. ²

About MetLife
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 customers build a more confident future. Founded in 1868, MetLife has operations in more than 40 markets globally and holds leading positions in the United States, Japan, Latin America, Asia, Europe and the Middle East. For more information, visit www.metlife.com.

Forward-Looking Statements
The forward-looking statements in this news release, such as “continues,” “expect,” “remain,” “seek” and “well-positioned,” are based on assumptions and expectations that involve risks and uncertainties, including the “Risk Factors” MetLife, Inc. describes in its U.S. Securities and Exchange Commission filings. MetLife’s future results could differ, and it has no obligation to correct or update any of these statements.

Endnotes
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 is comprised of all MetLife general account and separate account assets and unaffiliated/third party assets, at estimated fair value, managed by MIM.

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For Media:

Dave Franecki

+1 (973) 264-7465

dave.franecki@metlife.com

Source: MetLife, Inc.