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Carlyle acquires Metropolitan Real Estate Equity Management

25 Sep 2013

dcPrivate equity major Carlyle has bought Metropolitan Real Estate Equity Management, a real estate fund manager with more than $2.6bn in capital commitments.

Carlyle did not disclose the financial terms of the deal, which is expected to close in November this year, and said it will fund the acquisition from its balance sheet.

Since its launch in 2002, New York City-based Metropolitan has raised over $2.6bn across 16 funds of funds and committed to vehicles managed by more than 80 GPs.

Its real estate fund investments include new partnerships, secondary interests and co-investments in the US, Europe, Asia and Latin America.

Metropolitan will be part of Carlyle’s Solutions unit, which also includes AlpInvest, the $48 billion private equity fund of funds operation.

President and co-CIO of Metropolitan David Sherman will also serve as head of real estate within the Solutions platform.

Carlyle managing director Jacques Chappuis 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.”

Earlier this month it was reported that Carlyle, Accel Partners and Macquarie Group were eyeing an exit of online foreign exchange services provider OzForex Group through an A$440m IPO.

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