Candriam is entering the European private equity market in a strategic partnership with its parent company New York Life Investments, as the latter plans to acquire a 40% minority interest in Andera Partners.
Andera, a European investment firm specialising in middle-market, growth and small-market private equity investments, as well as mezzanine debt, life sciences, venture capital and energy transition infrastructure, manages €4.3bn 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, chief executive officer 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,” he added.
This strategic partnership expands New York Life Investments’ private markets offering, which is $652bn (€622bn) in assets under management, and provides clients access to independent affiliated investment teams through its US private equity and private debt firm Apogem Capital, European real estate manager Tristan Capital Partners, and European private credit specialist Kartesia Management.
Additionally, the partnership positions Andera to expand its client base and further develop its private capital strategies in Europe and globally, leveraging the distribution network, global scale, and operational resources of Candriam and New York Life Investments, it was announced.
“Andera’s deep expertise and strong track record align seamlessly with Candriam’s commitment to delivering innovative and impactful investment solutions,” said Vincent Hamelink, chief executive officer of Candriam.
“This partnership creates significant opportunities for our clients by broadening our offering in the European private-capital space,” he added.
“This partnership with Candriam and New York Life Investments is fully in line with Andera Partners’ strategic ambitions,” said Laurent Tourtois and Raphaël Wisniewski, managing partners at Andera Partners.
“This marks the start of a new era of internationalisation 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’ growth, medical innovation and the energy transition,” they said.
The transaction is subject to customary consultation with the relevant employee representative bodies and to closing conditions, including regulatory approvals. It is expected to close during the first half of 2025. Terms of the anticipated transaction are not being disclosed.
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