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MetLife Launches Third-Party Management Platform
Beginning of article
New York-based MetLife, the largest life insurance company lender, will launch a third-party asset-management business for institutional investors, including insurance companies, pension plans and sovereign wealth funds.
The company already owns and manages a $10 billion global portfolio of direct-equity real estate investments in office, apartment, retail, industrial and hotel properties; now it seeks to manage assets for outside investors.
"Asset management is a capital-efficient business, with attractive returns on equity," said Steven Goulart, executive vice president and chief investment officer with MetLife. "The strong demand for high-quality private assets among …
