WHIPPANY, N.J., February 07, 2023
MetLife Investment
Management (MIM), the institutional asset management business of
MetLife, Inc. (NYSE: MET), announced that it has entered into a definitive
agreement to acquire Raven Capital Management, a privately-owned alternative
investment firm. As of December 31, 2022, Raven’s assets under management
totaled $2.1 billion. The acquisition is subject to customary closing
conditions.
Raven invests across the private credit spectrum, with a specialization in
primary origination, underwriting, execution and management of middle market
direct asset-based investments. It is expected that the acquisition of Raven
will significantly advance MIM’s ability to grow its higher yielding private
credit offerings as well as its overall origination in the asset classes and
sectors in which Raven specializes.
“A distinguishing feature of MIM is our ability to originate differentiated
private investment opportunities for our clients. The addition of Raven
Capital Management will broaden and further distinguish our offerings in
higher yielding private credit and alternative investments.” said Steven J.
Goulart, president of MIM and executive vice president and chief investment
officer for MetLife. “MIM will be able to deliver more for our clients and
continue to expand our range of capabilities and complementary investment
strategies.”
Based in New York and Santa Monica, Calif., Raven Capital Management is
primarily focused on direct asset-based investments, including senior
secured loans as well as outright purchase of cash-flowing assets. It
manages a range of specialty assets such as music and media, among others.
“We are excited to join a leading global asset manager in MIM and believe we
can accelerate both our success and MIM’s as an integrated part of its
platform,” said Josh Green, founder, president and chief investment officer
of Raven Capital. “MIM is a like-minded partner positioned for continued
growth. We look forward to the opportunity to bring investment solutions to
an even broader group of institutional 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 September 30, 2022, had $571.2 billion in total
assets under management.
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, using words such as
“believe,” “continue,” “seek” and “will,” 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 does
not undertake any obligation to publicly correct or update any of these
statements.
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