MetLife Investment Management (MIM), the institutional asset management business of MetLife, Inc. (MET) - Get Report, has appointed Sara Queen as managing director and head of Real Estate Equity, effective March 15, 2021. Reporting to Robert Merck, senior managing director and global head of MetLife Investment Management's Real Estate and Agriculture business, Queen will succeed Mark Wilsmann, who is retiring at the end of March after more than 30 years with the company.
"Sara's passion for commercial real estate, her strong client relationships and her leadership and business development experience make her the perfect choice to lead our Real Estate Equity group into a new era," said Merck.
"I thank Mark for his many contributions to the company over the years. He leaves our Real Estate Equity platform well-positioned as he passes the baton to Sara, who throughout her career has proven time and time again that she's eager to roll up her sleeves, build a winning platform and drive real value for institutional clients. We couldn't be happier to have her join the team," added Merck.
Queen will oversee MetLife Investment Management's $32.7 billion 1 Real Estate Equity portfolio, which comprises core, core-plus, build-to-core, value-add and opportunistic strategies for the firm's institutional clients and MetLife's general account.
She joins from Mapletree Investments, a global real estate development, investment and capital management company headquartered in Singapore, where she was head of the company's North America business. After joining Mapletree Investments in 2018, Queen tripled the firm's U.S. real estate equity assets under management (AUM) to $10 billion.
Prior to Mapletree Investments, Queen spent 11 years at Brookfield as head of asset management for the company's U.S. office portfolio, in addition to overseeing strategic planning and management of their expanding closed end accounts business. Before Brookfield, she spent nine years at Clarion Partners in a variety of asset management and portfolio management roles.
Queen began her asset management career at MetLife in 1991, before departing in 1996 to pursue her MBA from Harvard Business School. She also holds a BA in Economics and History from Wellesley College.
MetLife Investment Management's Real Estate group has offices in the U.S. and international markets, including London, Mexico City, Santiago and Tokyo. As of December 31, 2020, MetLife Investment Management had $106.7 billion in commercial real estate AUM 2 and $659.6 billion in total AUM. 3
About MetLife Investment Management MetLife Investment Management, the institutional asset management business of MetLife, Inc. (MET) - Get Report, is a global public fixed income, private capital and real estate investment manager providing tailored investment solutions to institutional investors worldwide. MetLife Investment Management provides public and private pension plans, insurance companies, endowments, funds and other institutional clients with a range of bespoke investment and financing solutions that seek to meet a range of long-term investment objectives and risk-adjusted returns over time. MetLife Investment Management has over 150 years of investment experience and as of December 31, 2020 has $659.6 billion in total assets under management. 3
About MetLife MetLife, Inc. (MET) - Get Report, through its subsidiaries and affiliates (MetLife), is one of the world's leading financial services companies, providing insurance, annuities, employee benefits and asset management to help its individual and institutional customers navigate their changing world. Founded in 1868, MetLife has operations in more than 40 markets globally and holds leading positions in the United States, Japan, Latin America, Asia, Europe and the Middle East. For more information, visit www.metlife.com.
Forward-Looking StatementsThe forward-looking statements in this news release, such as "will" are based on assumptions and expectations that involve risks and uncertainties, including the "Risk Factors" MetLife, Inc. describes in its U.S. Securities and Exchange Commission filings. MetLife's future results could differ, and it has no obligation to correct or update any of these statements.
1 As of December 31, 2020. At estimated fair value. Represents the value of all real estate equity managed by MIM, excluding commercial mortgage loans included within certain real estate joint ventures owned by MetLife's general account, presented on the basis of gross market value (inclusive of encumbering debt).
2 As of December 31, 2020. At estimated fair value. Represents the value of all commercial mortgage loans (including commercial mortgage loans included within certain real estate joint ventures owned by MetLife's general account) and real estate equity managed by MIM, presented on the basis of gross market value (inclusive of encumbering debt).
3 At estimated fair value, presented on the basis of net asset value (net of encumbering debt). Includes MetLife general account and separate account assets and unaffiliated / third party assets.
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