Andera Partners to expand New York Life Investments' $65 billion global alternatives offering
New York Life Investments, Candriam and Andera Partners (Andera) announced today plans to enter into a strategic partnership whereby New York Life Investments, a diversified, global asset management firm with $750 billion in assets under management1 (AUM), will acquire through its global affiliate network a 40% minority equity interest in Andera.
Andera, a leading European investment firm specializing in middle-market, growth and small-market private equity investments, as well as mezzanine debt, life sciences, venture capital and energy transition infrastructure, manages over $4.5 billion in assets for institutional and private investors.
"This partnership reflects our commitment to broadening our alternative investment capabilities to serve the growing demand for private market assets among both institutional and individual investors," said Naïm Abou-Jaoudé, CEO of New York Life Investment Management."The experienced team at 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."
This strategic partnership expands New York Life Investments' $65 billion2 AUM private markets offering which today provides clients access to independent affiliated investment teams through its US private equity and private debt firm Apogem Capital LLC; European real estate manager Tristan Capital Partners LLP; and European private credit specialist Kartesia Management S.á.r.l.
Additionally, this partnership positions Andera to expand its client base and further develop its private capital strategies across Europe and globally, leveraging the distribution network, global scale, and operational resources of Candriam and New York Life Investments.
"Andera's deep expertise and strong track record align seamlessly with Candriam's commitment to delivering innovative and impactful investment solutions," said Vincent Hamelink, CEO of Candriam. "This partnership creates significant opportunities for our clients by broadening our offering in the European private capital space. We look forward to working together to achieve shared success and deliver exceptional value to our clients."
"This partnership with Candriam and New York Life Investments is fully in line with Andera Partners' strategic ambitions," commented Laurent Tourtois and Raphaël Wisniewski, Managing Partners at Andera Partners. "This is not only a recognition of Andera's performance but also a unique opportunity to join forces with such respected and powerful institutions. This marks the start of a new era of internationalization for Andera Partners, in a market context of fast growth and consolidation. We are pursuing our ambition to play a key role in financing the economy, fostering European SMEs's growth, medical innovation and the energy transition. Candriam and New York Life Investments, as leading players with strong international presence and networks, and strong values aligned with ours, are the ideal partners to accelerate our trajectory. We are confident that this win-win partnership will create sustainable value for our customers, our teams, our portfolio companies and our entire ecosystem."
The transaction remains subject to customary consultation with the relevant employee representative bodies and to closing conditions, including regulatory approvals. It is anticipated to close during the first half of 2025. Terms of the anticipated transaction are not being disclosed.
About New York Life Investments
With $750 billion in assets under management as of September 30, 2024, New York Life Investments, a Pensions Investments' Top 30 Largest Money Manager3, is comprised of the affiliated global asset management businesses of its parent company, New York Life Insurance Company, and offers clients access to specialized, independent investment teams through its family of affiliated boutiques. New York Life Investments remains committed to clients through a combination of the diverse perspectives of its boutiques and a long-lasting focus on sustainable relationships.
About Candriam
Candriam stands for "Conviction AND Responsibility In Asset Management" and is a global multi-specialist asset manager. A pioneer and leader in sustainable investments since 1996, Candriam manages around EUR 149 billion of assets under management4 with a team of more than 600 professionals. It operates management offices in Luxembourg, Brussels, Paris, and London, and has client representatives in more than 20 countries throughout continental Europe, the United Kingdom, the United States, and the Middle East. Candriam offers investment solutions5 in several key areas: bonds, equities, alternative strategies, and asset allocation, with a broad and innovative range of ESG strategies covering all its asset classes.
Candriam is a New York Life Investments Company6. New York Life Investments ranks among the world's largest asset managers7. For more information see: www.candriam.com.
About Andera Partners
Created over 20 years ago, Andera Partners is a major player in private company investments in France and internationally. Its teams manage $4.5 billion in investments in growth and buyout capital, life sciences, sponsorless transactions, and ecological transition.
Andera Partners' mission is to work alongside companies and their managers to support them in achieving strong and sustainable growth. The quality of performance offered to our investors relies on a strong partnership between the entrepreneurs in our portfolio companies and our teams, based on shared values. Performance through collective engagement, the "Power of And", constitutes Andera Partners' DNA.
Based in Paris, with offices in Antwerp, Madrid, Milan, and Munich, Andera Partners counts 115 professionals, of which 72 are investment professionals. For more information, see: www.anderapartners.com
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1 As of Sept. 30, 2024
2 $64.5 billion as of Sept. 30, 2024.
3 New York Life Investment Management ranked 26th largest institutional investment manager in Pensions Investments' Largest Money Managers 2024 published June 2024, based on worldwide institutional AUM as of 12/31/23. No direct or indirect compensation was paid for the creation and distribution of this ranking.
4 As of 30 June 2024. Candriam's AUM methodology includes assets, such as non-discretionary AUM, external fund selection, overlay services, including ESG screening services, advisory consulting services, white labelling services, and model portfolio delivery services that do not qualify as Regulatory Assets Under Management, as defined in the SEC's Form ADV. AUM is reported in EUR.
5 Not all products and services are available to all investors or in all regions.
6 New York Life Investments is a service mark used by New York Life Investment Management Holdings LLC and its subsidiary New York Life Investment Management LLC. Both are wholly-owned indirect subsidiaries of New York Life Insurance Company.
7 Source: New York Life Investments ranked 25th among the world's largest money managers within Pensions Investments, June 2024. Rankings are based on total worldwide institutional assets under management for the year-end 2023. New York Life Investments assets include assets of affiliated investment advisors.
View source version on businesswire.com: https://www.businesswire.com/news/home/20241212667691/en/
Contacts:
Candriam: Jennifer Spivey + 44 (0) 7852 585 168 Jennifer.spivey@candriam.com
NEW YORK LIFE INVESTMENTS: Luke Shane +1-857-205-5587 Luke_I_Shane@newyorklife.com
Andera: Nicolas Delsert +33 6 22 67 71 17 n.delsert@anderapartners.com
Bénédicte Debusschere + 33 6 48 56 70 71 b.debusschere@bcadvisory.fr
