Business Wire 15-Sep-2017 10:23 AM
Acquisition will accelerate growth of MetLife Investment Managements third-party asset management business
NEW YORK--(BUSINESS WIRE)-- MetLife, Inc. (NYSE: MET) today announced that it has completed the acquisition of Logan Circle Partners, L.P. from Fortress Investment Group LLC (NYSE: FIG) for approximately $250 million in cash.
Steven J. Goulart, executive vice president and chief investment officer, MetLife, Inc., said, The acquisition of Logan Circle Partners is an important milestone as MetLife Investment Management expands its domestic and international investment management business for third-party clients. The strength of our combined platform and additional distribution channels will provide our clients with a wider range of investment opportunities across institutional fixed income and real estate markets.
Jude T. Driscoll, Logan Circle Partners founder, chief executive officer and chief investment officer, said, Were delighted to join the MetLife Investment Management team. We share a commitment to delivering best-in-class investment management solutions for our clients, and we are excited that MetLifes platform and expertise will drive even greater value for our investors.
Logan Circle Partners is a fundamental research-based investment manager, providing institutional clients with actively managed investment solutions across a range of traditional fixed income strategies. As of August 31, 2017, Logan Circle Partners had more than $37 billion in assets under management.
The firms focus complements MetLife Investment Managements expertise in specialty fixed income assets, which include real estate, agriculture, private placements and structured products, among others.
MetLife Investment Management is MetLife, Inc.s institutional asset management platform. With a team of more than 800 investment professionals located around the globe, MetLife Investment Management leverages a disciplined credit research and underwriting process to provide institutional clients with deal origination, asset acquisition opportunities and proprietary risk management analytics. For more information, visit www.metlife.com/investments.
MetLife, Inc. (NYSE: MET), through its subsidiaries and affiliates (MetLife), is one of the worlds 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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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 MetLife, Inc., its subsidiaries and affiliates. These statements are based on current expectations and the current economic environment. They involve a number of risks and uncertainties that are difficult to predict. These statements are not guarantees of future performance. Actual 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"), any 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.
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MetLife, Inc. For Media: James Murphy, 973-355-4673orFor Investors:John Hall, 212-578-7888
Source: MetLife, Inc.