Metlife's Goulart on M&A, Market Trends

The video discusses MetLife's approach to managing third party money, focusing on private assets and acquisitions. It highlights the cyclical nature of valuations and the importance of long-term investment strategies. The company targets acquisitions in institutional fixed income and real estate, while being cautious about market risks, particularly in the triple B market and bank loans. The video emphasizes avoiding companies with high leverage from M&A activities.

What was the primary reason MetLife started its investment management business six years ago?

• To diversify its portfolio

• To compete with other insurance companies

• To focus on public assets

• To leverage its core capabilities and skill set

How does MetLife view the cyclical nature of valuations in asset management?

• Valuations are irrelevant to acquisition decisions

• Valuations are cyclical and should be considered for long-term investments

• Valuations are unpredictable and random

• Valuations are always stable

Which areas is MetLife focusing on for future acquisitions?

• Public equities and commodities

• Cryptocurrencies and blockchain

• Retail banking and insurance

• Institutional fixed income and real estate

What is a major concern for MetLife in the triple B market?

• Low demand for securities

• High interest rates

• Increased leverage and potential downgrades

• Lack of investment opportunities

Why is MetLife cautious about syndicated bank loans?

• The market has grown dramatically with less strict terms

• They are not popular in the market

• They have low returns

• They are too similar to public equities