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B. G., Opalesque Geneva: MetLife Investment Management (MIM), the institutional asset management business of MetLife, Inc., has completed its acquisition of alternative investment firm Raven Capital Management.
Announced in February 2023, the transaction adds approximately $2.1bn to MIM's total AuM.
Raven is primarily focused on direct asset-based investments, including senior secured loans as well as the outright purchase of cash-flowing assets, and invests across the private credit spectrum. The firm has been led by Josh Green, a former Merrill Lynch managing director, since 2008. It has offices in New York City and Santa Monica, CA.
Raven will complement MIM's already strong private credit platform and deepen its origination capabilities, said Steven J. Goulart, president of MIM.
According to Coalition Greenwich, an S&P company and provider of analytics to the financial services industry, global private credit has grown more than six-fold since the Global Financial Crisis, surpassing $1.3tln in 2022. Their recent survey shows a mixture of stock losses, rising interest rates, inflation, and projected lower private equity returns have generated investor interest in the asset class.
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