MetLife to offer asset management service for private placement debt

By Tali David

Minneapolis, Oct. 9 - MetLife, Inc. plans to offer a third-party asset management service for private placement debt, the company said in a press release.

MetLife's private placement debt organization, to be renamed MetLife Private Capital Investors, will be led by MetLife's global head of private securities, Scott Inglis. It will originate and manage a range of investments, including corporate private debt, project finance and infrastructure debt and equity in renewable energy.

The organization will be part of the company's MetLife Investment Management business, which will focus on creating investment opportunities for institutional investors, including insurance companies, public and private pension plans and sovereign wealth funds.

MetLife said it originated $8.8 billion of private placements in 2011 for its general account and existing third-party accounts.

The insurance, annuities and employee benefits provider is based in New York.

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