MetLife Investment Management Originates $21.6 Billion in Private Credit Transactions in 2024
MetLife Investment Management (MIM), the institutional asset management business of MetLife, Inc. (NYSE:MET), today announced that it originated $21.6 billion in private credit transactions in 2024. MIM's private credit assets under management stood at $129.1 billion as of December 31, 2024.1
MIM's origination was well diversified across the private credit platform with:
- $6.8 billion in residential credit
- $6.4 billion in corporate debt
- $5.6 billion in infrastructure debt
- $2.8 billion in asset-based finance transactions.
"MIM is a premier originator of private assets and our clients appreciate the quality and diversity of transactions that we participate in on their behalf," said Brian Funk, interim president of MIM.
MIM continued to find strong relative value in residential credit in 2024, deploying $6.8 billion in residential mortgages and single-family rental debt financing, primarily in the non-qualified residential mortgage space.
MIM's $6.4 billion of corporate private placement origination was diversified across a range of industries. About $2.2 billion of MIM's corporate private placement origination was outside of the U.S., showcasing the firm's global footprint.
MIM's infrastructure origination of $5.6 billion was driven by digital expansion and decarbonization of power generation. The firm's focus on infrastructure sponsor relationships resulted in bilateral and direct deals comprising 40% of total origination. Nearly half, or $2.4 billion, of MIM's infrastructure origination was outside the U.S.
MIM's $2.8 billion of asset-based finance origination efforts were achieved primarily through the firm's direct sourcing channels and were diversified across both structure and sector including $1.7 billion of commercial and consumer asset transactions and approximately $880 million in alternate asset financing.
"With a long-term perspective and a focus on well-structured transactions, we expect to sustain our momentum and capitalize on emerging opportunities in essential services sectors such as housing, energy transition technologies and infrastructure modernization," Funk said.
MIM is a top 25 institutional investment manager globally by assets under management2 and manages more private fixed income assets for third-party insurance general accounts than any other asset manager.3 It is the largest infrastructure debt investment manager based on worldwide assets under management.4
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 March 31, 2025, had $616.9 billion in total assets under management. For more information, see the total assets under management fact sheet for the quarter ended March 31, 2025 available on MetLife's Investor Relations webpage (https://investor.metlife.com).
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, Asia, Latin America, Europe and the Middle East. For more information, visit https://www.metlife.com.
Forward-Looking Statements
The forward-looking statements in this news release, using words such as "capitalize," "expect," "seek" and "sustain" 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.
Endnotes
1 At estimated fair value.
2Pensions & Investments Managers Ranked by Total Worldwide Institutional Assets Under Management as of December 31, 2023.
3Clearwater Analytics Insurance Investment Outsourcing Report 2024 as of December 31, 2023.
4IPE Research as of December 31, 2023.
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