The Carlyle Group’s Metropolitan Real Estate Equity Management has collected $2 million for a secondaries and co-investments fund, according to documents filed with the US Securities and Exchange Commission Wednesday.
Metropolitan declined to comment.
Earlier this year, two sources familiar with the matter told Secondaries Investor Metropolitan planned to raise a $500 million sidecar to accompany the firm’s sixth US real estate fund of funds. It’s unclear if this fund is related to the sidecar but Metropolitan’s prior US fund of funds, Metropolitan Real Estate Fund V, raised $359 million. The 2007-vintage fund surpassed its $250 million target and received commitments from the Santa Barbara Foundation and the Spokane Employees’ Retirement System, according to PEI’s Research and Analytics division.
Carlyle bought Metropolitan in November 2013 and added the firm to its Carlyle Solutions Group, which also includes AlpInvest Partners and hedge fund manager Diversified Global Asset Management.
The Solutions group grew its assets under management by 18 percent to $56.7 billion of assets year-over-year, according to Carlyle’s second quarter earnings report. Fee-earning assets under management increased 24 percent to $39.4 percent year-over year. The growth was partially driven by the acquisitions of Metropolitan and DGAM as well as net capital raised by AlpInvest, according to the report.
Metropolitan is led by president and co-chief investment officer David Sherman and co-founder David Nasaw. The firm also has six managing directors including Felipe Dorregaray, who is listed on the SEC documents.
Earlier this year Metropolitan hired Sarah Schwarzchild and David Lei from Partners Group. The pair was appointed vice present and associate respectively and work in Metropolitan’s New York office.