NEW YORK: MetLife Inc, the largest US life insurer, formed a real estate venture with the New York State Common Retirement Fund, including an initial investment portfolio valued at more than US$1.4bil.
The insurer, which is seeking to expand in asset management, sold a 49.9% stake in the properties to the pension fund, the New York-based company said in a statement.
Already a subscriber? Log in.
Win a prize this Mother's Day by subscribing to our annual plan now! T&C applies.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!