This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

The Carlyle Group To Purchase Metropolitan Real Estate Equity Management

Global alternative asset manager The Carlyle Group (NASDAQ: CG) today announced that it has agreed to buy Metropolitan Real Estate Equity Management, LLC, a global manager of real estate funds of funds with more than $2.6 billion in capital commitments. Equity for the transaction will come from Carlyle’s balance sheet. Financial terms were not released. The transaction, subject to Metropolitan’s investors’ consent, is expected to close in November 2013.

Jacques Chappuis, Carlyle Managing Director and Head of the Solutions group, said, “Metropolitan is a proven multi-manager in global real estate. This adds an important capability to our growing Solutions business, strengthens our intellectual capital in global real estate, and immediately contributes to our corporate bottom line. David Sherman is a highly respected investor and we are excited to welcome him and the Metropolitan team to Carlyle.”

David Sherman, President and Co-Chief Investment Officer of Metropolitan, said, “Carlyle’s global scope and resources will better enable us to deliver the products and services that our investors demand. This acquisition is a validation of our model and our growth plans.”

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 80+ managers. Its 180+ real estate fund investments include new partnerships, secondary interests and co-investments – in the U.S., Europe, Asia and Latin America.

Metropolitan’s strategy is principally focused on value add/opportunistic real estate investments, and specifically on more than 1,000 highly focused, specialist real estate managers across the globe. The firm has 40 employees with five offices in the U.S., Europe and Asia.

Metropolitan will become part of Carlyle’s Solutions platform, which also includes AlpInvest, the $48 billion private equity fund of funds operation. Metropolitan’s current management team, led by David Sherman, will remain in place. In addition to his role as Co-Chief Investment Officer, Mr. Sherman will also become Head of Real Estate within the Solutions platform. Mr. Sherman and his team will continue to run the investment committee and make all investment decisions.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

DOW 18,010.68 -115.44 -0.64%
S&P 500 2,107.39 -13.40 -0.63%
NASDAQ 5,070.0260 -27.95 -0.55%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs