Alternative asset management giant Carlyle Group has bought international fund manager Metropolitan Real Estate Equity Management for an undisclosed sum.
Equity for the purchase will come from Carlyle Group’s balance sheet.
Metropolitan is based in New York, and invests in North America, Latin America, Asia and Europe, having raised $2.6bn in equity in 16 funds.
Jacques Chappuis, Carlyle’s managing director and head of the Solutions group, 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.”
The Carlyle Group has $180bn of assets under management.
sophia.furber@estatesgazette.com
