New York Life Investments, Candriam and Andera Partners (Andera) said today (12 December) they plan to enter into a strategic partnership whereby New York Life Investments, a diversified, global asset management firm with $750bn in assets under management, will acquire – through its global affiliate network – a 40% minority interest in Andera.
Andera, a leading European investment firm specializing in middle-market, growth and small-market private equity investments, as well as mezzanine debt, life sciences, venture capital and energy transition infrastructure, manages EUR 4.3 billion 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, CEO 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.”
This strategic partnership expands New York Life Investments’ $65bn AUM private markets offering which today 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.à r.l.
Additionally, 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.
“Andera’s deep expertise and strong track record align seamlessly with Candriam’s commitment to delivering innovative and impactful investment solutions,” said Vincent Hamelink, CEO of Candriam. “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.”
“This partnership with Candriam and New York Life Investments is fully in line with Andera Partners’ strategic ambitions,” commented Laurent Tourtois and Raphaël Wisniewski, Managing Partners at Andera Partners. “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’ growth, medical innovation and the energy transition. Candriam and New York Life Investments, as leading players with strong international presence and networks, 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.”
The transaction remains subject to customary consultation with the relevant employee representative bodies and to closing conditions, including regulatory approvals. It is anticipated to close during the first half of 2025. Terms of the anticipated transaction are not being disclosed.
Photo Caption: From left to right :
– Raphaël Wisniewski, Managing Partner, Andera Partners
– Vincent Hamelink, CEO, Candriam
– Laurent Tourtois, Managing Partner, Andera Partners
Photo Credits: Romain Lagrange, Andera Partners
