NY Life Investments to Buy 40% Stake in European Alts Manager Andera

American global asset manager New York Life Investments and its European affiliate Candriam announced plans to acquire a 40% minority stake in Paris-based investment firm Andera Partners.

Andera specializes in middle-market, growth, and small-market equity investments, along with mezzanine debt, life sciences, venture capital, and energy transition infrastructure. It manages $4.5B in assets for institutional and private investors and, through the deal, plans to leverage Candriam and New York Life Investments' distribution network, global scale, and operational resources to expand its client base and enhance its private capital strategies across Europe and globally.

The tie-up expands New York Life’s private markets AUM to $65B and underlines the company’s aim to broaden its alternative investment capabilities and further tap into the growing demand for private market assets. New York Life currently provides access to private markets offerings through 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.

Terms of the transaction, which is expected to close in the first half of 2025, were not disclosed.