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Home / transaction / Berkshire Global Advisors client Metropolitan Real Estate Equity Management is acquired by The Carlyle Group
Berkshire Global Advisors client Metropolitan Real Estate Equity Management is acquired by The Carlyle Group
  • has been acquired by

    • Berkshire Global Advisors client Metropolitan Real Estate Equity Management is acquired by The Carlyle Group

  • Date: September 2013
  • Sector: Private Markets - Real Estate / Assets
  • Sub-Sector: Real Estate
  • Region: North America
  • Seller AUM: $2.8 Billion

    • Seller Details
    Founded in 2002, Metropolitan Real Estate Equity Management is a privately owned, registered investment adviser with over $2.5 billion in capital commitments in 22 partnerships from a wide range of clients, including more than 150 institutional investors and high net worth investors. Metropolitan constructs and manages vintage year U.S., non-U.S., and global portfolios, which focus on value-add and opportunistic private real estate funds. The firm’s investment team is comprised of eight senior members with more than 170 years of combined experience. Metropolitan has offices in New York, San Francisco, Boston, London, and Hong Kong.

    Buyer Details
    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.

    Transaction Summary
    The Carlyle Group has entered into an agreement with Metropolitan Real Estate Equity Management to acquire substantially all of the assets of the private equity real estate funds of funds management company. Metropolitan will become part of Carlyle’s Solutions Group, which specializes in offering comprehensive, customized portfolio solutions to its clients. The transaction greatly increases the Solutions Group’s AUM and helps diversify Carlyle’s solutions offerings. Metropolitan will benefit from Carlyle’s strong fundraising organization and diverse, high quality investor base and will participate in jointly orchestrated opportunities for profitable growth.