Asset manager New York Life Investments, with its European affiliate Candriam, is expanding its private markets business through a partnership with European investment firm Andera.
New York Life Investments, which has US$750 billion in assets under management (AUM), will acquire a 40% minority equity interest in Andera through its global affiliate network. The transaction is expected to close in H1 2025.
Andera, which holds more than US$4.5 billion in AUM for institutional and private investors, specialises in middle-market, growth and small-market private equity investments. Its acquisition will add to New York Life Investments’ existing US$65 billion AUM private markets business.
Naïm Abou-Jaoudé, CEO of New York Life Investment Management, commented: “Andera has built an institutional-grade platform with a strong track record of investment performance that will complement and expand our current scale in private markets, and we are excited to welcome them to our family of global affiliates.”
Other firms in this affiliate group include asset manager Candriam, real estate manager Tristan Capital Partners and private credit specialist Kartesia Management in Europe, and private equity and private debt firm Apogem Capital in the US.
Vincent Hamelink, CEO of Candraim, noted: “This partnership creates significant opportunities for our clients by broadening our offering in the European private capital space.”
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