LONDON—New York Life Investment Management has taken a 40% equity stake in real estate asset manager Tristan Capital Partners via affiliate Candriam Investors Group, which has also formed a strategic partnership with Tristan. Deal terms were not disclosed; Tristan has about EUR 9.1 billion (US$11.1 billion) of assets under management.
The strategic partnership with Tristan enables Candriam to add real estate to its existing offerings include investment solutions in fixed income, equities, alternatives, sustainable investments and asset allocation strategies. It represents Candriam's first move into European private equity real estate investment management.
“As we grow our investment offerings and operations in Europe, we continue to seek strategic relationships and acquire complementary capabilities,” says Naïm Abou-Jaoudé, CEO of Candriam and chairman of New York Life Investment Management International. “Tristan Capital Partners is a true expert real estate manager. They have built an impressive track record and a strong and loyal client portfolio.
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Paul Bubny
Paul Bubny is managing editor of Real Estate Forum and GlobeSt.com. He has been reporting on business since 1988 and on commercial real estate since 2007. He is based at ALM Real Estate Media Group's offices in New York City.
