Global asset management firm The Carlyle Group has acquired Metropolitan Real Estate Equity Management LLC, another real estate manager with more than $2.6 billion in capital commitments.

Metropolitan, which has offices at 10 Post Office Square in Boston, is now part of Carlyle’s Solutions platform, which also includes AlpInvest, a $48 billion private equity group of funds business.

Metropolitan’s management team, led by David Sherman, will remain in place, according to a company statement. In addition to his role as co-chief investment officer, Sherman is now head of real estate within the solutions platform. Sherman and his team will continue to run the Metropolitan investment committee and to make all investment decisions, according to the statement.

Equity for the transaction came from Carlyle’s balance sheet. Financial terms were not released.

"Metropolitan is a proven performer with seasoned management. Their addition to our solutions platform strengthens our ability to serve the evolving and complex needs of our investors," Jacques Chappuis, Carlyle managing director and head of the solutions group, said in a statement.

Metropolitan has more than 180 real estate fund investments include new partnerships, secondary interests and co-investments in the U.S., Europe, Asia and Latin America. The firm has 40 employees with five offices in the U.S., Europe and Asia.

Carlyle Group Acquires Metropolitan Real Estate Equity Management

by James Cronin time to read: 1 min
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