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Adds Seasoned Team with Strong Track Record in Fixed Income
Significant Milestone Furthering MetLife’s Enterprise Strategy
“This transaction is directly aligned with our enterprise strategy to
deliver value by focusing on businesses with strong risk-adjusted
internal rates of returns, low capital intensity and sustainable cash
Under the terms of the agreement,
This transaction will not impact MetLife’s existing
The transaction is subject to customary closing conditions and regulatory approvals, and is expected to close in the third quarter of 2017.
This news release may contain or incorporate by reference information that includes or is based upon forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements give expectations or forecasts of future events. These statements can be identified by the fact that they do not relate strictly to historical or current facts. They use words such as “anticipate,” “estimate,” “expect,” “project,” “intend,” “plan,” “believe,” “will,” “following,” and other words and terms of similar meaning, or are tied to future periods, in connection with a discussion of future operating or financial performance. In particular, these include statements relating to future actions, prospective services or products, future performance or results of current and anticipated services or products, sales efforts, expenses, the outcome of contingencies such as legal proceedings, trends in operations and financial results.
Any or all forward-looking statements may turn out to be wrong. They can
be affected by inaccurate assumptions or by known or unknown risks and
uncertainties. Many such factors will be important in determining the
actual future results of
Explanatory Note on Non-GAAP Financial Information
MetLife Combined Managed Assets (as defined below) is a financial
measure based on methodologies other than accounting principles
generally accepted in
(2) Represents assets under management by
(i) the capital commitments or invested capital (or net asset value, "NAV," if lower) of its private equity funds and credit private equity funds, depending on which measure management fees are being calculated upon at a given point in time, which in connection with certain private equity funds includes the mark-to-market value of certain public securities held within the funds,
(ii) the contributed capital or book equity (as defined) of its publicly traded permanent capital vehicles,
(iii) the NAV of its hedge funds, including the Value Recovery Funds which pay fees based on realizations;
(iv) the NAV or fair value of its managed accounts, to the extent management fees are charged; and
(v) AUM of the funds related to the affiliated manager and co-managed funds.
For each of the above, the amounts exclude assets under management for which Fortress charges either no or nominal fees, generally related to its investments in its funds as well as investments in its funds by its principals, directors and employees.
Fortress’ calculation of AUM may differ from the calculations of other
asset managers and, as a result, this measure may not be comparable to
similar measures presented by other asset managers. Its definition of
AUM is not based on any definition of assets under management contained
in its operating agreement or in any of its
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