METLIFE INVESTMENT MANAGEMENT COMBINES FIXED INCOME, PRIVATE CAPITAL OFFERINGS, NAMES DRISCOLL TO LEAD UNIFIED STRUCTURE

WHIPPANY, N.J., April 23, 2024

MetLife Investment Management (MIM), the institutional asset management business of MetLife, Inc. (NYSE: MET), today announced that it has brought together its public fixed income and private capital offerings into a unified structure led by Jude Driscoll, who was named MIM's global head of Fixed Income and Private Capital.

The evolved structure will enhance MIM's best-in-class public and private credit capabilities to better create investment solutions and meet the fixed income needs of asset owners. MIM will be able to offer a differentiated set of liquid and illiquid credit investment solutions seamlessly through the platform.

"MIM is accelerating its efforts to offer a solutions-oriented approach to investing, and these changes aid that by creating a dynamic credit offering across a full range of investment strategies," said John McCallion, MetLife's chief financial officer and head of MetLife Investment Management. "Jude is a world-class investor and leader focused on delivering client solutions with experience building successful platforms in both public fixed income and private capital."

Driscoll was previously global head of Public Fixed Income at MIM. He joined the company in 2017 after MIM acquired Logan Circle Partners, where he was founder, chief executive officer and chief investment officer. Prior to Logan Circle, Driscoll was president and chief executive officer of Delaware Investments.

Brian Funk will assume leadership of MIM's Private Capital team, reporting to Driscoll. Funk, who has over 25 years of experience in credit research and investing, previously led global credit research in MIM's Public Fixed Income team covering corporate, municipal and sovereign credit, as well as sustainable fixed income strategies and special situations. Ian Bowman, who was previously a sector leader on the Global Credit Research team with a focus on consumer and healthcare credit, will succeed Funk as head of Credit Research in MIM's Public Fixed Income team.

"We are channeling the deep expertise and resources that already exist within MIM to build a diverse and deep credit offering that can deliver value to investors across market cycles," Driscoll said. "MIM has long had industry leading capabilities in public fixed income and private capital. Brian will be an outstanding leader for our Private Capital team, working closely with me to meet the evolving needs of clients."

MIM's Private Capital team originated $10.4 billion in private placement debt and private structured credit across 212 transactions in 2023. MIM's total private capital assets under management stood at $136.2 billion as of December 31, 2023.¹

"MIM is one of the industry's premier originators of private assets, and deep credit analysis is fundamental to our fixed income and private capital offerings," Funk said. "We are well positioned to build on our leadership position in sourcing strong credits with robust structures for investors who are increasingly seeking the attractive yields and portfolio diversification of private capital."

MIM's Public Fixed Income team has $320.8 billion in assets under management across long-duration, short-intermediate duration, corporate, core, emerging market, high yield, bank loans and municipal bonds, as well as liability-driven investment strategies.