Acquisition Continues Growth of Carlyle's Solutions Platform
WASHINGTON--(BUSINESS WIRE)--
Global alternative asset manager The Carlyle Group (NASDAQ: CG) today
announced that it has closed its acquisition of Metropolitan Real Estate
Equity Management, LLC, a global real estate multi-manager with more
than $2.6 billion in capital commitments. Equity for the transaction
came from Carlyle's balance sheet. Financial terms were not released.
Metropolitan is now part of Carlyle's Solutions platform, which also
includes AlpInvest, the $48 billion private equity fund of funds
business, bringing Solutions AUM to $50.6 billion. Metropolitan's
management team, led by David Sherman, remains in place. In addition to
his role as Co-Chief Investment Officer, Mr. Sherman is now Head of Real
Estate within the Solutions platform. Mr. Sherman and his team will
continue to run the Metropolitan investment committee and to make all
investment decisions.
Jacques Chappuis, Carlyle Managing Director and Head of the Solutions
group, said, "Metropolitan is a proven performer with seasoned
management. Their addition to our Solutions platform strengthens our
ability to serve the evolving and complex needs of our investors. We are
pleased to welcome David Sherman and his team to Carlyle."
David Sherman, President and Co-Chief Investment Officer of
Metropolitan, said, "We look forward to this new chapter for
Metropolitan. Carlyle's global scale, collaborative approach and
investor support services will bolster our ability to serve our fund
investors."
Established in 2002 and based in New York City, Metropolitan is one of
the largest managers of indirect investments in global real estate.
Since inception, Metropolitan has raised more than $2.6 billion across
16 commingled funds of funds with investments in more than 80 managers.
Its more than 180 real estate fund investments include new partnerships,
secondary interests and co-investments — in the U.S., Europe, Asia and
Latin America. The firm has 40 employees with five offices in the U.S.,
Europe and Asia.
About The Carlyle Group
The Carlyle Group (NASDAQ: CG) is a global alternative asset manager
with $180 billion of assets under management across 118 funds and 81
fund of funds vehicles as of June 30, 2013. Carlyle's purpose is to
invest wisely and create value on behalf of its investors, many of whom
are public pensions. Carlyle invests across four segments — Corporate
Private Equity, Real Assets, Global Market Strategies and Global
Solutions — in Africa, Asia, Australia, Europe, the Middle East, North
America and South America. Carlyle has expertise in various industries,
including: aerospace, defense & government services, consumer & retail,
energy, financial services, healthcare, industrial, technology &
business services, telecommunications & media and transportation. The
Carlyle Group employs more than 1,400 people in 34 offices across six
continents.
Web: www.carlyle.com
Videos:
www.youtube.com/onecarlyle
Tweets:
www.twitter.com/onecarlyle
Podcasts:
www.carlyle.com/about-carlyle/market-commentary/481
About Metropolitan Real Estate Equity Management
Founded in 2002, Metropolitan Real Estate Equity Management is a
privately owned, registered investment advisor with more than $2.6
billion in capital commitments across 22 partnerships (16 funds of funds
and six feeder funds), representing a wide range of clients, including
institutional investors, endowments and foundations and high net worth
investors. Metropolitan constructs and manages vintage year U.S.,
non-U.S., global and custom portfolios, with a focus on private,
indirect investments in value-add and opportunistic real estate. The
firm's investment team is comprised of nine senior members with more
than 200 years of combined experience. Metropolitan has offices in New
York, San Francisco, Boston, London, and Hong Kong.
Web: http://mreem.com/
The Carlyle Group
Elizabeth Gill, +1-202-729-5385
Elizabeth.gill@carlyle.com
Source: The Carlyle Group
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