Secondaries Offer Exposure to Seasoned Investments with Shortened Holding Periods
These Defensive Characteristics Resonate with Investors Late in the Economic Cycle
New York, NY – Global alternative asset manager The Carlyle Group (NASDAQ: CG) today announced it has closed Metropolitan Real Estate’s Secondaries Program II, raising $1.2 billion and exceeding its $750 million target. The program invests in the real estate secondaries market globally, providing liquidity to investors in private equity funds and other partnership structures. Program II builds on Metropolitan Real Estate’s secondaries investment strategy dating back to 2002 and its first dedicated secondaries program, which launched in 2014.
Sarah Schwarzschild, Head of Secondaries at Metropolitan, said, “Secondaries offer exposure to seasoned real estate investments with a shortened holding period. These defensive characteristics, among others, are resonating with our investors late in the economic cycle. As the secondary market continues to grow, we remain focused on acquiring high quality assets with capable partners at attractive valuations for our investors.”
Lauren Dillard, Head of Carlyle Investment Solutions, said, “Strong investor interest in this program is a testament to the team, their proven investment strategy and the depth of the opportunity. We are grateful for the support of our returning and new investors and will work hard to create value for them.”
Metropolitan Real Estate is a multi-manager real estate private equity investment platform that is part of Carlyle’s Investment Solutions business. The platform encompasses primary fund investments, direct property co-investments and secondaries, creating multiple and complementary ways for Metropolitan to invest with its partners.
Metropolitan’s secondary investment strategy benefits from its deep market relationships and foundation of over 225 existing fund investments. Program II has already closed five investments spanning the U.S., Europe and Asia in all major property types.
Metropolitan has a global team that comprises more than 40 people in the U.S., Europe and Asia. It is led by an investment committee averaging more than 25 years of industry experience. Metropolitan manages global real estate commingled funds and separate accounts comprised of primaries, secondaries and co-investments.
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The Carlyle Group
Liz Gill: +1 (202) 729-5385
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About The Carlyle Group
The Carlyle Group (NASDAQ: CG) is a global alternative asset manager with $212 billion of assets under management across 339 investment vehicles as of September 30, 2018. Carlyle’s purpose is to invest wisely and create value on behalf of its investors, many of whom are public pensions. Carlyle invests across four segments – Corporate Private Equity, Real Assets, Global Credit and Investment Solutions – in Africa, Asia, Australia, Europe, the Middle East, North America and South America. Carlyle has expertise in various industries, including: aerospace, defense & government services, consumer & retail, energy, financial services, healthcare, industrial, real estate, technology & business services, telecommunications & media and transportation. The Carlyle Group employs more than 1,625 people in 31 offices across six continents.