MetLife Investment Management to Woo Sovereign Funds
MetLife Investment Management, LLC, the investment arm of U.S. mega insurer MetLife Inc., is seeking to capitalize on institutional investors thirst for yield. The investment unit desires to augment its assets under management by offering new products and services to large pensions, other insurers and sovereign funds. For example, MetLife Investment Management has partnered with Norway’s Government Pension Fund Global on a number of real estate deals in cities like San Francisco and New York City, while providing private placement debt opportunities to other institutional investors. The investment arm has blazed a trail, expanding its offering in areas such as structure finance and high-yield bonds. Why? Institutional investors like Canada’s PSP Investments crave these types of yield-driven investments. PSP Investments recently opened an office off Lexington in Manhattan to source and increase its exposure to credit and debt investments.
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