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PG Schools signs $203.5M public-private partnership financing deal

February 23, 2021

MetLife Investment Management (MIM), the institutional asset management business of MetLife Inc., Monday announced it completed a public-private partnership transaction that will provide $203.5 million in funding for Prince George’s County Public Schools, the second largest public school system in the state and a top 20 public school district in the United States. Led by MIM’s Private Capital team, this unique PPP transaction is believed to be one of the first of its kind involving a public school system in the U.S. The $203.5 million transaction was managed by Fengate Capital Management and Gilbane Development Company and was part of a broader $478.5 million financing package for the district. The $203.5 million loan was split approximately evenly between MetLife’s general account and MIM’s institutional clients.

Article Source: The Daily Record

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