MetLife Investment Management funds $625 million transaction with Timberland – InsuranceNewsNet

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Sustainably managed forests provide timber for the growing housing construction market

GERMANTOWN, Tenn.–(BUSINESS WIRE)–
MetLife Investment Management (MIM), the institutional asset management business of MetLife, Inc. (NYSE: MET), today announced that it has placed long-term first mortgages secured by approximately 832,000 acres of timber and timber land across the Southeastern United States. The funding allows Tamarack Timberlands LLCwhich is owned by the Ontario Teachers’ Pension Plan and whose assets are managed by Resource Management Service, LLCto complete a $625 million buyout transaction and assume direct ownership of its forest assets in the we South.

“This landmark transaction is the result of working closely with the borrower to align long-term operational objectives with long-term funding needs,” said Robert Merckglobal head of real estate and agriculture at MetLife Investment Management. “The agreement highlights MetLife Investment Management’s commitment to finance borrowers who sustainably supply timber and agricultural products.

All forest assets in the transaction are third-party certified to Sustainable Forestry Initiative (SFI) forest management standards. Therefore, financial returns are complementary to environmental, social and corporate governance (ESG) results. The approach supports the protection of biodiversity, water and soil resources while contributing to climate change mitigation.

M.I.M. Agricultural Strategies Group includes a team of loan officers with an average of 16 years of experience in agricultural, agrifood and forestry financing. The unit has regional offices in Germantown, Tenn., Overland Park, Kan. and Fresno, California.

“This transaction reflects MetLife Investment Management’s commitment to investing in assets that produce sustainable returns, both environmentally and economically,” said Greg GallawayManaging Director and Head of Agricultural Strategies Group at MetLife Investment Management.

On MetLife Investment Management

MetLife Investment Managementthe institutional asset management activity of MetLife, Inc. (NYSE: MET), is a global manager of public fixed income, private equity and real estate investments that provides 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 tailored investment and financing solutions that aim to meet a range of long-term investment goals and risk-adjusted returns over time. MetLife Investment Management has over 150 years of investment experience and, since December 31, 2021had $669 billion of total assets under management.1

On MetLife

MetLife, Inc. (NYSE: MET), through its subsidiaries and affiliates (“MetLife”), is one of the world’s leading financial services companies, providing insurance, annuity, employee benefits and asset management. assets to help individual and institutional clients build a more confident future. Founded in 1868, MetLife is present in more than 40 markets worldwide and holds leading positions in United States, Japan, Latin America, Asia, Europe and the Middle East. For more information, visit www.metlife.com.

1Total assets under management include all MetLife general account and separate account assets and unaffiliated/third party assets, at estimated fair value, managed by MIM.

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For the media:
Dave Franecki
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Source: MetLife, Inc.

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