MetLife Investment Management Facilitates $130M Investment in Brookfield Renewable Partners’ Sidney A. Murray, Jr. Hydroele...
22 December 2020 - 01:30AM
Business Wire
MetLife Investment Management (MIM), the institutional asset
management business of MetLife, Inc. (NYSE: MET), facilitated a
$130 million investment, including $74 million on behalf of
unaffiliated clients, in the senior secured private placement
financing of Brookfield Renewable Partners’ (”Brookfield”) Sidney
A. Murray, Jr. Hydroelectric facility in Louisiana.
The Sidney A. Murray, Jr. Hydroelectric facility is a 192
megawatt run-of-river station located adjacent to the Mississippi
River in Concordia Parish, Louisiana. It was developed in 1990
through the Catalyst Old River Hydroelectric Partnership, a
partnership program with the Town of Vidalia, a local
municipality.
The facility is one of the leading sustainable assets in
Louisiana, providing renewable electricity generation through
hydropower in a region of relatively high carbon intensity. It is
also part of the Old River Control Complex, a collection of four
structures operated to better manage flooding in the region.
The $130 million investment, part of a larger $560 million
private placement financing executed by Brookfield, was facilitated
by MIM’s Infrastructure team and funded by MetLife and six
unaffiliated clients. The proceeds support Brookfield’s ownership
of the facility as a global leader of renewable power with strong
ESG principles and practices.
John Tanyeri, MetLife Investment Management’s global head of
Infrastructure, said: “Given the volatile backdrop this year as a
result of the pandemic, our ability to deliver execution certainty
amidst challenging markets remains critically important to our
clients and to our issuers and sponsors, such as Brookfield. This
investment is perfectly aligned with our long-term focus on and
commitment to environmental sustainability.”
MIM’s Infrastructure platform is part of the firm’s Private
Capital group. MIM’s Private Capital team, which comprises private
placements, infrastructure and structured credit, is active across
a wide range of industry sectors, including general industrial,
healthcare, professional services, retail, utilities, electric
transmission, renewable power, social housing and other
infrastructure sectors. As of September 30, 2020, MIM managed a
total private placement debt portfolio of $94.1 billion on behalf
of affiliated and unaffiliated clients.
This transaction follows MetLife’s recent release of its new
2030 Environmental Goals.
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 September 30, 2020, had $651.1 billion in total assets
under management[1]. For more information, visit
https://investments.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 its individual and institutional customers navigate their
changing world. Founded in 1868, MetLife has operations in more
than 40 markets globally and holds leading positions in the United
States, Japan, Latin America, Asia, Europe and the Middle East. For
more information, visit www.metlife.com.
1 At estimated fair value. Includes MetLife general account and
separate account assets and unaffiliated / third party assets.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20201221005470/en/
James Murphy +1 917-225-6303 james.p.murphy@metlife.com
MetLife (NYSE:MET)
Historical Stock Chart
From Feb 2024 to Mar 2024
MetLife (NYSE:MET)
Historical Stock Chart
From Mar 2023 to Mar 2024