This Day On The Street
Continue to site
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 Completes Acquisition Of Metropolitan Real Estate Equity Management

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.

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
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 17,812.19 +19.51 0.11%
S&P 500 2,089.14 +2.55 0.12%
NASDAQ 5,102.8080 +0.33 0.01%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs