New York Life Investment Management LLC[2] is a U.S. investment management company based in Jersey City, New Jersey. Founded in 1986, New York Life Investment's parent company is New York Life Insurance Company, the largest mutual life-insurance company in the United States, and one of the largest life insurers in the world, ranking #71 on the 2023 Fortune 500 list.[3]

New York Life Investments offers investors access to institutional money management through its mutual funds, exchange-traded funds (ETFs), separately managed accounts, and non-traditional strategies. New York Life Investments has over $674 billion USD in assets under management.[4]

History

Founded in 1986, New York Life Investments provides investment advisory services to financial advisors and their clients. An independent subsidiary of New York Life Insurance Company, over the years New York Life Investments has added to its boutique of investment advisors. This includes MacKay Shields (acquired by New York Life in 1984),[5] Markston International, LLC (1999),[6] New York Life Fixed Income Advisors (2004),[6] Winslow Capital Management (2005), Epoch Investment Partners (2006),[7] MacKay Municipal Managers (2009), Cornerstone Capital Management (2013),[8] Cushing Asset Management (2014),[9] and IndexIQ (2015).[10]

The Mainstay brand was launched in 1986 shortly after MacKay Shields, first offered to retail and then to institutional investors in 1991.[11]

In 2015, the acquisition of IndexIQ introduced liquid alternative investment exchange-traded funds to its product offerings.[11] In June 2024, New York Life announced that its Mainstay and IndexIQ funds would be renamed to reflect the New York Life brand, with the names of funds beginning with NYLI.[12]

Together with sister New York Life subsidiary Candriam, New York Life Investments Alternatives acquired a one-third ownership stake in Kartesia Management in late 2020.[13] Candriam was identified as a subsidiary of New York Life Investments in December 2024, with.Kartesia, Apogem Capital and European real estate manager Tristan Capital Partners each noted as affiliated investment teams. That month, New York Life Investments partnered with Candriam to acquire a 40% minority stake in Andera Partners.[14] The company's assets under management were reported at over $750 billion in December 2024.[1]

References

  1. ^ a b The Desk New York Life Investments boosts European private markets business December 13, 2024
  2. ^ "MainStay Funds webpage information footnote".
  3. ^ "Fortune 500 2018: New York Life #69".
  4. ^ "AUM includes assets of Investment Advisors affiliated with New York Life Insurance Company as of July 31, 2018. AUM for Candriam and Ausbil is reported at the spot rate".
  5. ^ "MacKay Shields Company History".
  6. ^ a b "MainStay Multi-boutique Investment Management".
  7. ^ "MainStay Acquires $750 Million in Epoch Mutual Funds". Archived from the original on 2015-09-24. Retrieved 2015-01-09.
  8. ^ "New York Life to Acquire a Minority Stake in Cornerstone Capital Management".
  9. ^ "MainStay Investments and Cushing® Asset Management LP to Partner on Master Limited Partnership and Energy-Related Mutual Funds". 7 April 2014.
  10. ^ "New York Life buys IndexIQ to expand liquid alts offering, add hedge fund ETFs". 21 October 2014.
  11. ^ a b "Our History | New York Life Investments". www.newyorklifeinvestments.com. Retrieved 2024-10-25.
  12. ^ "New York Life Investments Announces Renaming of its MainStay and IndexIQ Fund Lineup". www.newyorklifeinvestments.com. Retrieved 2024-10-25.
  13. ^ Bloomberg Candriam Buys Stake in $3 Billion Private Credit Firm Kartesia December 8, 2020
  14. ^ IPE Magazine Candriam enters European private equity market in strategic partnership December 12, 2024
Allikas: https://en.wikipedia.org/wiki/New_York_Life_Investments
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