WHIPPANY, NJ AND LONDON – (BUSINESS WIRE) –MetLife Investment Management (MIM), the institutional asset management business of MetLife, Inc. (NYSE: MET), today announced that it will provide funding of $ 161 million / GBP 117.5 million to English Football League (EFL) to strengthen the league’s financial support to its Championship Clubs.
The funding agreement will allow the EFL to provide championship clubs with immediate additional funding after a difficult 12 months when the finances of many clubs were affected by the COVID-19 pandemic. Championship clubs have now played the equivalent of a full season without spectators due to the pandemic prevention measures, which impacted Gates revenue and other revenue streams for the day.
Rick Parry, President of the English Football League, said: “Last week marked an unfortunate anniversary for football as supporters are now unable to attend matches for a period of 12 months, with multiple consequences. negative. It is therefore a timely and welcome support package for Championship clubs, whose operations have continued to incur significant costs without generating near-normal revenues. ”
“I would like to thank MetLife Investment Management for the positive and proactive approach they have taken throughout our negotiations and for meeting our demands under a unique set of circumstances. The support will be essential for clubs to reassess their financial situation and help them begin to chart their way out of the pandemic and plan with more certainty for 2021/22 as we look forward to the return of fans in large numbers. ”
“We know that a healthy and vibrant football environment with strong and resilient clubs is important to the UK,” said Steven J. Goulart, President of MetLife Investment Management and Chief Investment Officer of MetLife, Inc. “We We are delighted to be working with EFL so that they can support their league clubs with additional funds when needed, further building a strong and sustainable football landscape and ultimately supporting the communities of which they are a part.
MIM Private Capital Group has been an active participant in the global sports industry for the past 15 years, the company investing in a range of transactions including stadium construction and team funding in countries across Europe. The group comprises private placements, infrastructure and structured credit investment management, and is active in a wide range of industrial sectors, including general industry, healthcare, professional services, retail, utilities, power transmission, renewable energy and social housing, among others. As of December 31, 2020, MIM had $ 130.9 billion in private fixed assets under management1 and $ 659.6 billion in total assets under management.2
About MetLife Investment Management
MetLife Investment Management, the institutional asset management business of MetLife, Inc. (NYSE: MET), is a global fixed income, private equity and public real estate manager providing tailored investment solutions for institutional investors of the whole world. MetLife Investment Management offers public and private pension plans, insurance companies, endowments, funds and other institutional clients a range of tailor-made investment and financing solutions seeking to meet a range of long-term investment goals and risk-adjusted returns over time. MetLife Investment Management has over 150 years of investment experience and, as of December 31, 2020, total assets under management of $ 659.6 billion.
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 clients individuals and institutions to navigate their changing world. Founded in 1868, MetLife is present in more than 40 markets around the world and occupies 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 contained in this press release, such as “may”, “continued”, “may”, “plan”, “plot” and “will”, are based on assumptions and expectations that involve risks and risks. uncertainties, including “risk factors” described by MetLife, Inc. in its filings with the United States Securities and Exchange Commission. MetLife’s future results may differ and it has no obligation to correct or update any such statements.
1 As of December 31, 2020. At estimated fair value. Private Capital AUM comprises private companies, private infrastructure, residential mortgages, alternatives, private middle market capital and private structured credit.
2 Total Assets Under Management includes all of MetLife’s general and segregated account assets and unaffiliated / third party assets, at estimated fair value, managed by MIM.