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.
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 management and manages more private fixed income assets for third-party insurance general accounts than any other asset manager. It is the largest infrastructure debt investment manager based on worldwide assets under management.
