MetLife Investment Management Achieves 40% Growth in Total Agricultural Mortgage Loan Assets Under Management Over Five-year Period
MetLife Investment Management (MIM), the institutional asset management business of MetLife, Inc. (NYSE: MET), announced today that it originated $4.0 billion in agricultural mortgage loans across over 400 notes in 2022. MIM's total agricultural mortgage loan assets under management reached $21.6 billion,1 up 40% over the five-year period ending December 31, 2022. MIM maintained its position as the largest, non-governmental sponsored source of agricultural mortgage capital for the sector.2
"In 2022, agricultural producers benefited from high commodity prices that solidified their financial positions," said Robert Merck, global head of Real Estate and Agriculture at MetLife Investment Management. "MIM is proud to have been able to continue our support of these critical agriculture producers' growth and stability last year. We strongly value our lending relationships, many of which have been forged over decades, and look forward to continuing our role as a key capital source for agricultural mortgage lending."
"MIM's team, with deep relationships and an extensive network in local communities, worked to support our borrowers in their acquisition and expansion of prime farm and ranch lands, timberlands and food and agribusiness operations," said Greg Gallaway, head of MIM's Agricultural Strategies group, "Our continued strong origination volume reflects the team's commitment to deliver bespoke financial solutions to our borrowers. We remain committed to providing capital to producers that support the needs of a growing global population."
Highlights of MIM's 2022 agricultural lending transactions3 include:
Biagi & Associates, LLC
Farmland Partners Inc. (FPI)
Gateway Arch Timber, LLC
About MetLife Investment Management
MetLife Investment Management, the institutional asset management business of MetLife, Inc. (NYSE: MET), 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, 2022, had $579.8 billion in total assets under management.4
MetLife, Inc. (NYSE: MET), 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 and holds leading positions in the United States, Japan, Latin America, Asia, Europe and the Middle East. For more information, visit www.metlife.com.
The forward-looking statements in this news release, using words such as "continue," "look forward," "remain" and "seek," 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 does not undertake any obligation to publicly correct or update any of these statements.
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