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With new home, Mariinsky builds Russian roots

Ballet dancers perform during the premiere of a new production of the Russian composer Sergei Prokoviev's ''Metaphysics'' in the Mariinsky Theatre in St. Petersburg November 15, 2006. REUTERS/Alexander Demianchuk

Ballet dancers perform during the premiere of a new production of the Russian composer Sergei Prokoviev's ''Metaphysics'' in the Mariinsky Theatre in St. Petersburg November 15, 2006.

Credit: Reuters/Alexander Demianchuk

LONDON | Tue Dec 18, 2012 3:31pm EST

LONDON (Reuters) - With the imminent opening of its third home venue, St. Petersburg's Mariinsky opera and ballet will ramp up an already prodigious output but may ease back on hectic foreign touring, director Valery Gergiev said on Tuesday.

World audiences have come to know Gergiev and his company well as they crisscrossed the globe after the collapse of Soviet state funding. But with Russians now pouring the kind of money into the arts that has just built the $700-million Mariinsky II theatre, he wants to concentrate on domestic performances.

"It's important for us to continue to go to London, Berlin or Chicago," Gergiev told Reuters after a presentation of plans in London. "But now we are more comfortable at home."

Touring remains important, not for commercial gain but for "national pride" in promoting Russian music, he said. Some 300 of 1,000 performances in 2014 would be on the road - but many of these would be not abroad but in distant Russian regions where Gergiev sees it his mission to bring music to the provinces.

For those unable to visit St. Petersburg, where the 2,000-seat new venue will open on May 2 to complement the 150-year-old opera house and a concert hall opened in 2006, the company, known as the Kirov in Soviet times, is expanding its recordings and video broadcasts to theatres worldwide, including in 3D.

A 3D recording of Christmas ballet "The Nutcracker" is in cinemas this winter and Gergiev will go a step further in what he acknowledged is not a risk-free experiment with a live 3D broadcast from St. Petersburg of "Swan Lake" on February 14 - St. Valentine's Day. It is being produced in partnership with the Hollywood 3D studio of "Avatar" director James Cameron.

Turning 60 next year, Gergiev shows little sign of slowing down; he plans to direct all three of the orchestras that will play under the Mariinsky name once the new venue opens, will begin new recordings of Wagner's "Ring" cycle and plans to complete his series of discs of all Shostakovich's symphonies.

While working the company hard, he denied there have been serious rumblings of discontent in the ballet troupe over pay and conditions. Responding to a letter of complaint from dancers that was widely publicized in Russian media last month, he said: "There's nothing terrible happening in the Mariinsky - no way."

In a move to address concerns, however, he announced a plan to build 50 or more apartments to house performers: "They will be relatively cheap apartments, basically a gift to them from the company," he said. "But then they have to perform."

(Reporting by Alastair Macdonald, editing by Jill Serjeant)


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MetLife builds third-party asset management, revamps real estate

NEW YORK | Tue Oct 9, 2012 9:41am EDT

NEW YORK (Reuters) - Metlife Inc (MET.N) said Tuesday it will build an asset-management business for outside investors focusing on investments in real estate equity, commercial mortgages and debt private placement.

"Asset management is a capital-efficient business with attractive returns on equity," Steven Goulart, MetLife's chief investment officer, said in a statement. "The strong demand for high-quality private assets among institutional investors makes this an attractive time for market entry."

MetLife, the largest U.S. life insurer, which manages some $500 billion in general account assets for its policyholders, currently has a small third-party management business focusing on index funds.

MetLife is reorganizing its real estate and private placement groups to facilitate the expansion.

Robert Merck, global head of real estate investments, will continue to run the group that has been renamed MetLife Real Estate Investors. It currently manages about $43 billion of commercial mortgages and $10 billion in direct real estate investments, assets that will be folded into the outside management business.

The new equity strategies group will be run by Mark Wilsmann, who has led MetLife's commercial mortgage business since 2003.

The new debt strategies group, which will raise funds for real estate projects from institutional investors that include other insurance companies, pension plans and sovereign wealth funds, will be run by Brian Casey. He has been heading MetLife's Washington, D.C., real estate office.

The company, which says it is the largest life insurance lender, currently manages about $50 billion of privately placed debt.

MetLife, which does not break out its individual portfolio investment returns, has no immediate plans to acquire asset-management companies.

"Right now our focus is building on the great strength we have in-house," said Christopher Breslin, a company spokesman.

(Reporting by Jed Horowitz; Editing by Leslie Adler)


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