3 in the Pocket, as New York Life and CBRE IM List Another Fund
Posted on 10/28/2021
CBRE Investment Management is an independently operated affiliate of CBRE Group, Inc. New York Life Investments and CBRE Investment Management created the MainStay CBRE Global Infrastructure Megatrends Fund. New York Life Investment Management LLC serves as the manager of the Fund and CBRE Investment Management Listed Real Assets LLC serves as the subadvisor. The Fund’s common shares began trading today on the New York Stock Exchange under the symbol “MEGI,” and the offering is expected to close on Friday, October 29, 2021, subject to customary closing conditions.
MainStay CBRE Global Infrastructure Megatrends Fund, a non-diversified, closed-end fund, raised US$ 1,000,000,000 in its common share offering (excluding any exercise of the underwriter’s option to purchase additional common shares), with Morgan Stanley, BoA Securities, Raymond James, and Wells Fargo acting as lead underwriters.
The MainStay CBRE Global Infrastructure Megatrends Fund marks the third fund launched as part of New York Life Investments’ strategic partnership with CBRE Investment Management. The firm also serves as subadvisor to two additional mutual funds in the MainStay Fund lineup: the MainStay CBRE Real Estate Fund (Ticker: CLARX) and the MainStay CBRE Global Infrastructure Fund (Ticker: VCRAX).
