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MetLife's (MET) Arm MIM Closes $1.6B Private Equity Fund
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MetLife, Inc.’s (MET - Free Report) institutional asset management business, namely MetLife Investment Management (MIM), recently introduced a private equity fund investment platform for institutional clients. This latest launch is cocurrent to the closing of $1.6 billion commitments to a new MIM-managed fund-of-funds.
Unaffiliated institutional investors are expected to gain from a better and wider private equity investment platform. Moves similar to the latest one are expected to add strength to the asset management business of MetLife and sustain the leading market position that the multiline insurer has.
The new fund bought a portfolio worth $1.2 billion from MetLife affiliates of private equity and venture capital assets with funded and unfunded commitments. It should be noted that MIM aims to deploy around $400 million on behalf of the fund on new private equity opportunities post closure.
This latest launch solidifies its position in alternative asset classes and is a testament to its 30-year record as a leading private markets investor. The acquired portfolio of assets includes about 80 quality private equity and venture capital fund investments across various sectors. MET exited 2021 with $14 billion private equity assets related to its general account’s private equity portfolio.
HarbourVest will be able to gain from MIM’s private equity assets. During the 2007-2021 time period, MIM deployed around $18 billion alternative investments.
MIM had $669 billion total AUM at the end of 2021. MIM is a global public fixed income, private capital and real-estate investment manager that provides tailored investment solutions to institutional investors.
Recently, MIM also announced that its business in the European Economic Area (EEA), MetLife Investment Management Europe Limited (MIM Europe), received a license from the Central Bank of Ireland (CBI). This will likely enhance its EEA business to better serve European institutional investors.
Shares of MetLife have gained 11.8% in a year against the industry’s decline of 8.6%. MET currently carries a Zacks Rank #3 (Hold).
Image Source: Zacks Investment Research
Stocks to Consider
Some better-ranked stocks in the insurance space are Fidelity National Financial, Inc. (FNF - Free Report) , Manulife Financial Corporation (MFC - Free Report) and RLI Corp. (RLI - Free Report) . While Fidelity National sports a Zacks Rank #1 (Strong Buy), Manulife Financial and RLI carry a Zacks Rank #2 (Buy) at present. You can seethe complete list of today’s Zacks #1 Rank stocks here.
The bottom line of Fidelity National outpaced estimates in each of the last four quarters, the average being 31.73%. The Zacks Consensus Estimate for FNF’s 2022 earnings has moved 3.3% north in the past 30 days. FNF has a Value Score of A.
Manulife Financial’s earnings surpassed estimates in three of the last four quarters and missed the mark once, the average surprise being 3.39%. The Zacks Consensus Estimate for MFC’s 2022 earnings suggests an improvement of 7.7% from the year-ago reported figure. The consensus mark for Manulife Financial’s 2022 earnings has moved 0.4% north in the past seven days.
RLI has a trailing four-quarter earnings surprise of 40.23%, on average. The Zacks Consensus Estimate for the stock’s 2022 earnings has moved 1.3% north in the past 60 days. RLI has a Growth Score of B.
Shares of Fidelity National, Manulife Financial and RLI have lost 4.1%, 2% and 5.4%, respectively, in a year.
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MetLife's (MET) Arm MIM Closes $1.6B Private Equity Fund
MetLife, Inc.’s (MET - Free Report) institutional asset management business, namely MetLife Investment Management (MIM), recently introduced a private equity fund investment platform for institutional clients. This latest launch is cocurrent to the closing of $1.6 billion commitments to a new MIM-managed fund-of-funds.
Unaffiliated institutional investors are expected to gain from a better and wider private equity investment platform. Moves similar to the latest one are expected to add strength to the asset management business of MetLife and sustain the leading market position that the multiline insurer has.
The new fund bought a portfolio worth $1.2 billion from MetLife affiliates of private equity and venture capital assets with funded and unfunded commitments. It should be noted that MIM aims to deploy around $400 million on behalf of the fund on new private equity opportunities post closure.
This latest launch solidifies its position in alternative asset classes and is a testament to its 30-year record as a leading private markets investor.
The acquired portfolio of assets includes about 80 quality private equity and venture capital fund investments across various sectors. MET exited 2021 with $14 billion private equity assets related to its general account’s private equity portfolio.
HarbourVest will be able to gain from MIM’s private equity assets. During the 2007-2021 time period, MIM deployed around $18 billion alternative investments.
MIM had $669 billion total AUM at the end of 2021. MIM is a global public fixed income, private capital and real-estate investment manager that provides tailored investment solutions to institutional investors.
Recently, MIM also announced that its business in the European Economic Area (EEA), MetLife Investment Management Europe Limited (MIM Europe), received a license from the Central Bank of Ireland (CBI). This will likely enhance its EEA business to better serve European institutional investors.
Shares of MetLife have gained 11.8% in a year against the industry’s decline of 8.6%. MET currently carries a Zacks Rank #3 (Hold).
Image Source: Zacks Investment Research
Stocks to Consider
Some better-ranked stocks in the insurance space are Fidelity National Financial, Inc. (FNF - Free Report) , Manulife Financial Corporation (MFC - Free Report) and RLI Corp. (RLI - Free Report) . While Fidelity National sports a Zacks Rank #1 (Strong Buy), Manulife Financial and RLI carry a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
The bottom line of Fidelity National outpaced estimates in each of the last four quarters, the average being 31.73%. The Zacks Consensus Estimate for FNF’s 2022 earnings has moved 3.3% north in the past 30 days. FNF has a Value Score of A.
Manulife Financial’s earnings surpassed estimates in three of the last four quarters and missed the mark once, the average surprise being 3.39%. The Zacks Consensus Estimate for MFC’s 2022 earnings suggests an improvement of 7.7% from the year-ago reported figure. The consensus mark for Manulife Financial’s 2022 earnings has moved 0.4% north in the past seven days.
RLI has a trailing four-quarter earnings surprise of 40.23%, on average. The Zacks Consensus Estimate for the stock’s 2022 earnings has moved 1.3% north in the past 60 days. RLI has a Growth Score of B.
Shares of Fidelity National, Manulife Financial and RLI have lost 4.1%, 2% and 5.4%, respectively, in a year.