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MetLife Investment Management to Acquire Alternative Investment Firm Raven Capital Management

February 08, 2023, 08:05 AM
Filed Under: Mergers & Acquisitions

MetLife Investment Management (MIM), the institutional asset management business of MetLife, entered into a definitive agreement to acquire Raven Capital Management, a privately-owned alternative investment firm. As of December 31, 2022, Raven’s assets under management totaled $2.1 billion. The acquisition is subject to customary closing conditions.

Raven invests across the private credit spectrum, with a specialization in primary origination, underwriting, execution and management of middle market direct asset-based investments. It is expected that the acquisition of Raven will significantly advance MIM’s ability to grow its higher yielding private credit offerings as well as its overall origination in the asset classes and sectors in which Raven specializes.

“A distinguishing feature of MIM is our ability to originate differentiated private investment opportunities for our clients. The addition of Raven Capital Management will broaden and further distinguish our offerings in higher yielding private credit and alternative investments,” said Steven J. Goulart, president of MIM and executive vice president and chief investment officer for MetLife. “MIM will be able to deliver more for our clients and continue to expand our range of capabilities and complementary investment strategies.”

Based in New York and Santa Monica, Calif., Raven Capital Management is primarily focused on direct asset-based investments, including senior secured loans as well as outright purchase of cash-flowing assets. It manages a range of specialty assets such as music and media, among others.

“We are excited to join a leading global asset manager in MIM and believe we can accelerate both our success and MIM’s as an integrated part of its platform,” said Josh Green, founder, president and chief investment officer of Raven Capital. “MIM is a like-minded partner positioned for continued growth. We look forward to the opportunity to bring investment solutions to an even broader group of institutional clients.”

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