MetLife RE Investments feedback?
First time poster, long time lurker here.
Curious if anyone has worked in this group or interacted with them (specifically the Morristown NJ office) on either the equity or debt side. What is the perception of Metlife compared to the RE investment arms of other insurers? Compared to non-mega fund REPE firms?
Can you please lend some insight as to why insurance companies get such bad raps on here (from either the employee perspective or as from a counter party perspective)? Is is because they do mostly only vanilla core investment and their employee comp is mediocre? It would seem like an opportunity with this group would be savory simply for the fact that they control their own destiny (i.e. deep pockets in invest).
Thanks in advance.
I don't think life co's get a bad rap on here at all, and if they do they shouldn't. My only experience with them is as a borrower, which they were fine.
I have no idea on comp or day to day. I do know they invest in a little bit of everything (even hospitality) but I haven't seen them get involved in an LP developments (not to say they haven't).
So overall my post was pretty worthless.
I would like to know how active they are these days too. I mean from the 30's-80's they were pretty much the elite Insurer RE Group. Hopefully some folks on here have some solid insight.
Bump. Anyone else? @DK2345", I think Met is one of the largest mortgage originators of its kind (maybe only outdone by Pru last year) and they were getting into the third-party investment management business beginning late 2012.
Still wondering what it is about them that I don't know...maybe it's simply because they favor experienced hires and have relatively turnover low rates so there is less insight available on this board...
Places like insurance houses and full-service brokerages get shit on WSO simply because they doesn't fit the "sexy appeal" of Wall Street firms. Lots of people going the "IB/PE/HF or bust" route (whether for $$ or prestige) who don't understand that the work/life balance and environment of more "Main Street" finance firms sometimes fit others' lifestyles better. I, for one, wouldn't mind making a stable 50-60k a year at a MetLife or a T Rowe Price as a first-year investment associate then climbing the ladder to hit 6-figs before 30. Lots of attrition at the lower levels....
Thanks all for the feedback. I think your comments confirms my initial thoughts.
Not a huge fan of Met but they sold Stuy Town to "The Street" for a $3 billion profit (the street was smart enough to sell of the debt by 2010 but still). They're no hedge fund but $3 billion is quite savy.
Yeah. Would highly recommend reading "Other People's Money" by Charles V. Bagli for the full story.
http://www.wallstreetoasis.com/forums/why-is-a-career-in-insurance-look…
You do realize there is a difference between working at Bentall Kennedy , MetLife, Pru, Cornerstone and selling insurance? One is a CRE investment adviser and the other, is well a sales person. Nothing wrong with it (sales person) but it's not the same thing. Sales brings in the float and we invest it. It's why Buffet owns insurance companies.
Also, associates at AIG, MET, DRA, PRU all make anywhere from mid-low 100's to mid 200's.
Finally losing "other peoples money" doesn't make you a great investor. Might make those people stupid for giving it back to you but....
May be a stupid question, but what's DRA?
MetLife Real Estate Investments (Originally Posted: 12/23/2012)
Anyone know anything about MetLife's Real Estate Investment Associate program? Any thoughts on their RE Investment platform in general?
I know a guy who went through the associate program and is now a vp at MetLife. He loves the culture there. As far as their platform is concerned, it's what you would expect - core/core plus investments. A couple people on his team have backgrounds as office PMs and they now focus the regions where they used to manage. That actually brings me to another point....their offices are divided up geographically so if you work in the DC office, changes are slim to none that you would ever evaluate deals that are outside the DC/MD/VA area.
Thanks for the insight. Any idea are they perceived relative to their peers (Pru, Principal, etc.)?
I see Metlife in the market doing deals much more than I see Principal or Pru for its own account. Pru's PREI group is different, and does a broader and more exotic range of deals than the vanilla core/core plus investments I typically associate with lifecos.
I believe Met is perceived as one of the best Lifecos with NML and Pru. Seems like they are really expanding on the equity side. Heard they were going to try raising outside money for funds. With that being said, it's still a Lifeco.
MetLife Real Estate (Originally Posted: 10/31/2017)
How is MetLife real estate viewed around the New York area, specially their debt side? Looks like they have a bunch of products and originate a ton. Thoughts on exit opportunities?
Their debt side does a ton of volume and they divide their offices up geographically. So if you’re in Jersey office you’ll be working on deals in the NE.
I interviewed for the job you’re likely interviewing for but dropped out bc of the rough commute. They don’t have a shuttle from manhattan but they do offer a shuttle from one of the train stations in whippany. Pay is somewher between 55k - 70k according to the recruiter. Saw a guy on linked in who went to goldman RE finance from there
appreciate the response. Interviewed with one of the workers that commutes from nyc and said it was brutal, so I dont blame you
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