MetLife Investment Management holds $390m final close for Single Family Rental Fund

MetLife Investment Management (MIM), the institutional asset management business of MetLife, has closed the MetLife Single Family Rental Fund (SFR Fund) with $390 million in capital commitments.

MIM’s single-family rental (SFR) strategy is focused on developing and acquiring purpose-built, single-family rentals across the 75 largest U.S. markets.

"We have a high level of conviction in the demand for single-family rentals, and we see this fund as a natural extension of our experience investing in other housing segments, where our perspective as a leading institutional investment manager has served clients well,” said Robert Merck, global head of Real Estate and Agricultural Finance at MIM. “We believe there’s a significant and sustained opportunity to give renters access to well-located units designed specifically for their use.”

Commitments to the SFR Fund were secured from a global group of institutional investors. The SFR Fund is the first closed-end