MetLife Investment Management Infrastructure Debt

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Infrastructure Debt

Available Vehicles

Separately Managed Accounts

$33.6

Private Infrastructure

We provide capital for economic and social infrastructure development. As a long-term, buy-and-hold investor, we focus on greenfield and brownfield investments that provide essential public services and offer the potential for stable and predictable cash flows.

Objective

We offer an Infrastructure Debt strategy that seeks to originate investment grade, senior secured notes in fully contracted greenfield and brownfield entities with strong track records. We believe that core infrastructure debt is attractive given the underlying essential hard assets, cash flow potential, high barriers to entry, likelihood of government support and generally low historical loss rates. Typical investments include pipelines, ports, bridges, roads, airports and power facilities, using a global strategy to try to optimize transaction flow.

Why Infrastructure Debt

Critical Assets: Provide funding for investments that support the economic and/or social well-being of a country or region

Diversification: Issuers, sectors and/or structures that generally are not available in the public markets

Downside Protection: Financial covenants and/or collateral, which seek to provide protection and may be especially important in a deteriorating credit environment

Economics: Attractive spread and incremental income opportunities

Asset/Liability Management: Call protection and flexible maturity profiles

Philosophy

Our infrastructure debt philosophy is based on the mantra: “credit, structure, pricing.” We seek to invest in credits whose transactions are well structured, properly priced and have sufficient relative value compared to other investment opportunities.

We are active in sourcing transactions directly from borrowers and equity sponsors as well as responding to agented deals. Having a broad universe of investment opportunities allows us to be selective in choosing the deals in which to invest.

Approach

  • Rigorous credit analysis to facilitate the selection of credits with appropriate structures, robust protections, and attractive relative value
  • Utilize MetLife Investment Management's size and presence to seek access to new direct deals and receive favorable allocations. Often able to customize deal terms and structures
  • Construct portfolios of investments tailored to help meet client needs across sectors, maturities and credit quality

Differentiating Factors

  • Long-standing experience investing in private capital, utilizing industry-focused analysts with established sector relationships
  • Dedicated team of professionals solely focused on the infrastructure debt market
  • Increased access via agent transactions as well as MetLife Investment Management direct-origination deals
  • Rigorous underwriting process and robust credit monitoring with specialized analysts

Latest Insight

Renewable infrastructure will fuel investors’ interest in and appetite for project financings that incorporate or rely on storage.
Expert Commentary
Buying into the Energy Future

Award2

 

Award3

 

Proximo Awards4

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As of June 30, 2021. At estimated fair value.

2 IJ award winners are selected by an independent panel of judges who each receive a copy of submissions in advance of judging day to prepare. To view who the judges were for the IJInvestor Awards 2020, go to https://interactive.ijinvestor.com/awards2019. The shortlist is drawn up by the IJGlobal editorial team in order to simply the next part of the judging process. The shortlist for Direct Investor- Debt is available on the website at https://ijglobal.com/articles/150907/ijinvestor-awards-2020-company-shortlist. The judges review each of the submissions, discuss the merits of each and decide their winner from this as well as bringing in their knowledge and expertise of a firm/project. Voting is confidential so individuals do not know who has voted for which firm/project.This award should not be construed as an endorsement of the advisor by any client nor is it representative of any one client’s evaluation of the firm. This award does not evaluate the quality of services provided to clients and is not indicative of the firm’s future performance.

3 The criteria used by Infrastructure Investor for selecting candidates and judging the winners is based on editorial team meeting to discuss who they feel should be shortlisted in each category. This is informed by their own in-depth knowledge of what is happening in the asset class, but also by submissions which firms make, drawing attention to the highlights of their year. The shortlists are then finalized and put to Infrastructure Investors global readership to vote. There is no way of a firm paying to make a shortlist or win an award. Receipt of the award does not constitute an endorsement of MIM or imply a certain level of skill/expertise. 

The Proximo Awards methodology combines vast combined editorial expertise, deep research and market polling. Deals are put to the vote on our unique deals data platform tagmydeals.com where the market can vote on each category. Based on well managed risk and innovative structuring to name two, our editorial team will dive deep into the detail to seek out the deserving winners from this list. There is no way to pay to receive the award. Receipt of the award does not constitute an endorsement of the investment advisor, or imply that the investment advisor maintains a certain level of skill or expertise.

Investors should carefully consider their investment objectives, risks, fees, charges and expenses before investing any money. To obtain this and other information, please email icg@metlife.com to request more information. Please review the Terms of Use of this site for additional details.