MetLife Investment Management

Steven J. Goulart serves as Chief Investment Officer of MetLife, Inc. and President of MetLife Investment Management, overseeing the firm's combined general account and third-party institutional mandates. He reports directly to MetLife CEO Michel Khalaf. The investment leadership team includes separate heads for public fixed income, private credit, real estate, and infrastructure, each with dedicated origination and portfolio management staff.

MIM manages the MetLife general account alongside external client capital, with the same portfolio managers and origination teams investing for both. The general account's liability-driven, buy-and-hold orientation shapes MIM's underwriting discipline — a structural feature that external institutional investors cite as a risk-management advantage. Third-party clients access the same deal flow that MetLife puts on its own balance sheet, typically through commingled funds or separately managed accounts.

MIM invests both directly and through commingled funds that it manages. In private credit, the firm acts as a lead arranger on direct middle-market loans and participates in broadly syndicated deals. Its real estate platform runs direct commercial mortgage lending as well as open-end and closed-end fund vehicles. MIM also manages fund-of-hedge-fund portfolios and private equity fund commitments on behalf of MetLife's general account and select external clients.

MIM has publicly stated it does not invest in companies that derive significant revenue from thermal coal mining or the manufacture of tobacco products, as part of MetLife's enterprise-wide responsible-investment policy (per the firm's official communications). The firm also maintains exclusionary screens for controversial weapons manufacturers. Beyond these explicit restrictions, MIM's insurance heritage pushes the portfolio toward investment-grade credits and income-producing real assets, which naturally limits exposure to early-stage venture and speculative technologies.

MIM sources proprietary deal flow primarily through its position as one of the largest commercial mortgage lenders in the US and its long-standing relationships with middle-market private equity sponsors. The firm's general account absorbs large origination volumes that standalone managers cannot warehouse, which gives MIM's origination teams a first-look advantage with borrowers. In infrastructure debt, the firm has leveraged MetLife's international insurance operations in Latin America, Europe, and Asia to source local-currency deals that global infrastructure funds often miss.

MIM is a wholly owned subsidiary of MetLife, Inc., operating as an SEC-registered investment advisor. While captive to the parent, it competes for external institutional mandates on a commercial basis, and a material portion of its managed assets comes from third-party clients including pension funds, sovereign wealth funds, and other insurance companies. The firm's London, Tokyo, and Latin American offices serve both MetLife's local insurance units and unaffiliated institutional investors.

MetLife Foundation operates as a separate charitable entity, funded through contributions from MetLife, Inc. rather than through MIM-managed investment vehicles. The foundation focuses on financial inclusion and community development, deploying grants independently of the investment management business. No MIM investor capital flows to foundation activities.