Sidley Represents MetLife Investment Management in US$1.2 Billion Private Equity Partners Fund III, A Managed Secondary Transaction

Sidley represented MetLife Investment Management (MIM), the institutional asset management business of MetLife, Inc., in connection with the establishment of MetLife Investment Private Equity Partners Fund III (the Fund). The Fund purchased a portfolio of approximately US$754 million of private equity, venture capital, and equity co-investment interests with funded and unfunded commitments totaling US$966 million from MetLife affiliates as part of a managed secondary sale transaction anchored by funds managed by Lexington Partners, which served as lead investor. The Fund represents the third fund in MIM’s private equity investment platform for institutional investors.

TThe cross-practice Sidley team advising on the transaction was led by Oren Gertner (Investment Funds) and Noam Waltuch (U.S. Tax), and included Kali Froh, Pashann Bhada, Alexandra Du Pont, Antonio Lopez, Josh Hammond, Daniel Schoenfeld, Victoria Wang, Vincent Bartiromo, Hugh Reynolds, Amy Jane-Turner, trainee solicitor Nikola Lalic, law clerks Victoria Kageni and Anu Thomas, and project assistant Isabel Carmona (Investment Funds); Andy Lau, Patrick Gray, and Daniel Venetucci (U.S. Tax); Steve Quinn, Florence Barnes, Megan Cox, and trainee solicitor Alexander Coral (London Tax); Teresa Wilton Harmon, T.J. Gordon, Karen Goldstein, Annie Wallis, Pietro Fontana, Max Lupin, and Nicholas Salas (Global Finance); Anna Gumport (Restructuring); James Daher, James Mendenhall, and Lloyd Lyall (Global Arbitration, Trade and Advocacy); Christian Pilhofer (Employee Benefits); and Andrew Holland (Insurance).