The Carlyle Group to Purchase Metropolitan Real Estate Equity Management, Terms Not Disclosed

WASHINGTON--(BUSINESS WIRE)-- Global alternative asset manager The Carlyle Group CG today announced that it has agreed to buy Metropolitan Real Estate Equity Management, LLC, a global manager of real estate funds of funds with more than $2.6 billion in capital commitments. Equity for the transaction will come from Carlyle's balance sheet. Financial terms were not released. The transaction, subject to Metropolitan's investors' consent, is expected to close in November 2013. Jacques Chappuis, Carlyle Managing Director and Head of the Solutions group, said, “Metropolitan is a proven multi-manager in global real estate. This adds an important capability to our growing Solutions business, strengthens our intellectual capital in global real estate, and immediately contributes to our corporate bottom line. See full press release