MetLife Inc. announced that it has formed a real estate investment venture with a public pension fund in the US, New York State Common Retirement Fund. Further, the venture's initial investment portfolio consists of seven properties with a total of approximately 3.7m sq ft of mainly office space in the US and valued at over USD 1.4 billion. This will be managed by MetLife Investment Management (MIM), its institutional client investment business that is in charge of its investments in real estate and in corporate private placements, index investing, infrastructure debt and other private transaction activities.