MetLife Investment Management (MIM), the institutional asset management business of MetLife Inc., announced in late December that it facilitated a $130 million investment, including $74 million on behalf of unaffiliated clients, in the senior secured private placement financing of Brookfield Renewable Partners’ Sidney A. Murray, Jr. Hydroelectric facility in Louisiana.
The 192-MW Sidney A. Murray, Jr. Hydroelectric facility is a run-of-river station adjacent to the Mississippi River in Concordia Parish. It was developed in 1990 through the Catalyst Old River Hydroelectric Partnership, a partnership program with the Town of Vidalia.
The facility is part of the Old River Control Complex, a collection of four structures operated to better manage flooding in the region.
The $130 million investment, part of a larger $560 million private placement financing executed by Brookfield, was facilitated by MIM’s Infrastructure team and funded by MetLife and six unaffiliated clients. The proceeds support Brookfield’s ownership of the facility.
MIM’s Infrastructure platform is part of the firm’s Private Capital group. MIM’s Private Capital team — which comprises private placements, infrastructure and structured credit — is active across a wide range of industry sectors, including general industrial, healthcare, professional services, retail, utilities, electric transmission, renewable power and social housing. As of Sept. 30, 2020, MIM managed a total private placement debt portfolio of $94.1 billion on behalf of affiliated and unaffiliated clients.
MIM is a global public fixed income, private capital and real estate investment manager providing tailored investment solutions to institutional investors worldwide. MIM provides public and private pension plans, insurance companies, endowments, funds and other institutional clients with a range of bespoke investment and financing solutions that seek to meet a range of long-term investment objectives and risk-adjusted returns over time.