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Carlyle completes Metropolitan Real Estate acquisition

4 Nov 2013

real estate_lrgPrivate equity major Carlyle has completed the acquisition of real estate fund manager Metropolitan Real Estate Equity Management, which currently has $2.6bn in capital commitments.

Since its launch in 2002, Metropolitan has raised 16 funds of funds and committed to vehicles managed by more than 80 GPs.

The financial terms of the deal, which was announced in September, were not disclosed.

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

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

Carlyle’s solutions unit now have $50.6bn of assets under management.

Last month AlpInvest closed its fifth secondaries fund on its $750m hard cap, bringing its secondaries programme to $4.2bn.

Carlyle managing director Jacques Chappuis 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.”

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