MetLife Investment Management closes $1.6 billion MIM Private Equity Partners Fund through innovative managed transaction
Category: Transactions Year: 2022
MetLife Investment Management (MIM), the institutional asset management business of MetLife, Inc. (NYSE: MET), announced the launch of a private equity fund investment platform for institutional clients in concert with the closing of approximately $1.6 billion in commitments to a new MIM-managed fund-of-funds.
The new fund purchased a portfolio of approximately $1.2 billion of private equity and venture capital assets with funded and unfunded commitments totaling $1.2 billion from MetLife affiliates as part of a managed secondary sale transaction anchored by funds managed by HarbourVest Partners L.P., which served as lead investor.
MIM syndicated a portion of the transaction to other unaffiliated institutional clients. Following the closing, MIM intends to deploy approximately $400 million on behalf of the fund on new private equity opportunities.
Campbell Lutyens served as advisor to MetLife for this transaction.