CANDRIAM and New York Life Investments Alternatives Buys Stake in Kartesia Management SA

Posted on 12/10/2020


CANDRIAM, and its sister affiliate New York Life Investments Alternatives, acquired a minority ownership interest in Kartesia Management SA, a European specialist provider of private capital solutions for small and mid-sized companies. Terms of the transaction, which are subject to certain customary closing conditions, including regulatory approvals, were not disclosed. The transaction is anticipated to close by year end. Kartesia has more than EUR 2.8 billion of assets under management and expertise across the full spectrum of the European secondary and primary leveraged loan market including senior debt, mezzanine, minority equity interest, and CLO liabilities.

Under this partnership, Kartesia will retain its existing management and investment autonomy, while benefiting from the operating and financial resources, distribution network and scale of both CANDRIAM and NYLIA to enter a new phase of development. In Europe, the partnership will add European private credit to CANDRIAM’s multi-specialist offerings and in the U.S. complement the U.S. private credit capabilities of NYLIA.

New York Life Investments Alternatives LLC is a registered investment adviser that provides comprehensive capital solutions and other alternative strategies to a broad range of institutional clients. NYLIA is comprised of three highly specialized alternative investing boutiques: GoldPoint Partners, Madison Capital Funding, and PA Capital, collectively managing over US$ 30 billion in assets under management.

Jaime Prieto co-founded the Altercap funds at LBO France. Jaime Prieto is a Managing Partner at Kartesia Management.

Keywords: New York Life Insurance Company.

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