NEW YORK--(BUSINESS WIRE)--MetLife Investment Management, the institutional asset management platform for MetLife, Inc. (NYSE:MET) and State Street Corporation (NYSE: STT), today announced a multi-year agreement in which MetLife Investment Management and its affiliates will originate and service for State Street affiliates up to $2 billion in commercial mortgage loans. State Street affiliates and MetLife affiliates will co-lend each loan under the agreement.
“This MetLife-State Street partnership offers customers access to two highly respected, leading financial institutions,” said Robert Merck, senior managing director and global head of real estate and agriculture, MetLife Investment Management. “This is an important step in growing our real estate platform, and we look forward to partnering with State Street to provide a wider range of real estate financing options to our borrowers.”
“We are pleased to partner with MetLife to source new investment opportunities, as well as add commercial real estate mortgages to our broad suite of lending options, and we plan to lend in concert with our many asset management clients,” said Paul Selian, head of global credit finance for State Street Global Markets. “This agreement is a testament to the relationship State Street has with MetLife.”
MetLife Investment Management provides institutional investors with long-term public and private investment and financing solutions.
The partnership with State Street complements MetLife Investment Management’s commitment to growing its business across new fixed income strategies and in new markets. Last year, MetLife, Inc. acquired Logan Circle Partners, L.P., a specialist in traditional fixed income strategies, and earlier this year, MetLife Investments Asia Limited received its asset management license from the Securities and Futures Commission in Hong Kong.
About MetLife Investment Management
MetLife Investment Management, MetLife, Inc.’s institutional asset management platform, provides institutional investors including corporate and government pension plans, insurance companies and other financial institutions with long-term public and private investment and financing solutions. With operations in the Americas, Asia and the Europe, Middle East & Africa (EMEA) regions, MetLife Investment Management manages assets for third-party institutional investors, separate accounts and MetLife, Inc.’s general account. MetLife Investment Management leverages a disciplined credit research and underwriting process to provide institutional investors with asset origination and acquisition opportunities and proprietary risk management analytics across traditional fixed income strategies, commercial real estate debt and equity investing, agricultural financing and private placements, among others. For more information, visit www.metlife.com/investments.
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 its individual and institutional customers navigate their changing world. Founded in 1868, MetLife has operations in more than 40 countries and holds leading market positions in the United States, Japan, Latin America, Asia, Europe and the Middle East. For more information, visit www.metlife.com.
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Many factors will be important in determining the results of MetLife, Inc., its subsidiaries and affiliates. Forward-looking statements are based on our assumptions and current expectations, which may be inaccurate, and on the current economic environment, which may change. These statements are not guarantees of future performance. They involve a number of risks and uncertainties that are difficult to predict. Results could differ materially from those expressed or implied in the forward-looking statements. Risks, uncertainties, and other factors that might cause such differences include the risks, uncertainties and other factors identified in MetLife, Inc.’s most recent Annual Report on Form 10-K (the “Annual Report”) filed with the U.S. Securities and Exchange Commission (the “SEC”) and Quarterly Reports on Form 10-Q filed by MetLife, Inc. with the SEC after the date of the Annual Report under the captions “Note Regarding Forward-Looking Statements” and “Risk Factors” and other filings MetLife, Inc. makes with the SEC. MetLife, Inc. does not undertake any obligation to publicly correct or update any forward-looking statement if MetLife, Inc. later becomes aware that such statement is not likely to be achieved. Please consult any further disclosures MetLife, Inc. makes on related subjects in reports to the SEC.