New York Life Investments, Candriam, and Andera Partners announced plans to enter into a strategic partnership where New York Life Investments, a diversified, global asset management firm with $750 billion in assets under management (AUM), will acquire – through its international affiliate network – a 40% minority equity interest in Andera.
Andera is a leading European investment firm that specializes in middle-market, growth, and small-market private equity investments, mezzanine debt, life sciences, venture capital, and energy transition infrastructure. It manages over $4.5 billion in assets for institutional and private investors.
This partnership expands New York Life Investments’ $65 billion AUM private markets offering, which 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.
Plus, 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.
The deal remains subject to customary consultation with the relevant employee representative bodies and closing conditions, including regulatory approvals. It is anticipated to close during the first half of 2025, but the terms of the anticipated transaction have not been disclosed.
KEY QUOTES:
“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. 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.”
- Naïm Abou-Jaoudé, CEO of New York Life Investment Management
“Andera’s deep expertise and strong track record align seamlessly with Candriam’s commitment to delivering innovative and impactful investment solutions. 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.”
- Vincent Hamelink, CEO of Candriam
“This partnership with Candriam and New York Life Investments is fully in line with Andera Partners’ strategic ambitions. 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.”
- Laurent Tourtois and Raphaël Wisniewski, Managing Partners at Andera Partners
