MetLife closes FoFs at $1.6bn

MetLife Investment Management raised approximately $1.6 billion in commitments for a new MetLife-managed fund of funds, which will allocate to private equity and venture capital assets.

In setting up the MIM Private Equity Partners Fund, officials bought a portfolio of roughly $1.2 billion of private equity and venture capital assets as part of a managed secondary sale transaction anchored by funds managed by HarbourVest Partners, which served as a lead investor.

“This new platform and secondary transaction speak to MetLife’s 30-year . . .

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