Whippany-based MetLife Investment Management, the investment arm of MetLife Inc., on Tuesday said it will acquire Raven Capital Management, a privately-owned alternative investment firm that had $2.1 billion assets under management as of Dec. 31.
Founded in 2008 by former Merrill Lynch executive Josh Green, Raven invests across the private credit spectrum, with a specialization in primary origination, underwriting, execution and management of middle-market direct asset-based investments.
It is expected that the acquisition of Raven will significantly advance MIM’s ability to grow its higher yielding private credit offerings as well as its overall origination in the asset classes and sectors in which Raven specializes.
“A distinguishing feature of MIM is our ability to originate differentiated private investment opportunities for our clients. The addition of Raven Capital Management will broaden and further distinguish our offerings in higher yielding private credit and alternative investments,” Steven Goulart, president of MIM and executive vice president and chief investment officer for MetLife, said. “MIM will be able to deliver more for our clients and continue to expand our range of capabilities and complementary investment strategies.”
Based in New York and Santa Monica, California, Raven Capital Management is primarily focused on direct asset-based investments, including senior secured loans as well as outright purchase of cash-flowing assets. It manages a range of specialty assets such as music and media, among others.