MIM originates $6.2bn in private placement debt in H1 2020

Written by Adam Cadle

26/08/2020

MetLife Investment Management (MIM) originated $6.2bn in private placement debt for the first half of 2020, across nearly 100 transactions. This included $1.7bn of investments originated on behalf of institutional clients.

“Despite COVID-driven economic uncertainty and associated volatility in the fixed income markets, we remained active throughout the first six months of 2020, serving as a key capital partner to our issuers,” John Wills, global head of private placements at MIM, said.

MIM’s private placement debt origination for the first half of 2020 comprised $4.5bn in corporate private placement debt transactions and $1.7bn in infrastructure private placement debt transactions. This origination activity, which added 29 new credits, helped grow MIM’s total private placement debt portfolio to $91.2bn as of 30 June 2020.

MIM’s corporate private placement activity was diversified across industry sectors, including general industrial, healthcare, professional services, retail and utilities. MIM was selective in its infrastructure private placement opportunities and participated in transactions that provided strong structural protections and relative value across the following sectors: electric transmission, renewable power, social housing and infrastructure, and stadiums. Investments included nearly $550m in six transactions across the renewable power and social housing and infrastructure sectors.

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