New York Life Investments
U.S. investment management company based in Jersey City, New Jersey
From Wikipedia, the free encyclopedia
New York Life Investment Management LLC is a U.S. investment management company based in Jersey City, New Jersey. Founded in 1986, New York Life Investment's parent company is New York Life Insurance Company, the largest mutual life-insurance company in the United States, and one of the largest life insurers in the world, ranking #71 on the 2023 Fortune 500 list.[2]
 | |
| Company type | Private |
|---|---|
| Industry | Investment Management |
| Founded | 1986 |
| Headquarters | Jersey City, New Jersey, U.S. |
Key people | Naïm Abou-Jaoudé (CEO) |
| Products | Asset Management |
| AUM | US$750 billion (2024)[1] |
| Parent | New York Life Insurance Company |
| Subsidiaries | Candriam |
| Website | www |
New York Life Investments offers investors access to institutional money management through its mutual funds, exchange-traded funds (ETFs), separately managed accounts, and non-traditional strategies. New York Life Investments has over $750 billion USD in assets under management as of 2024.
History
Founded in 1986, New York Life Investments provides investment advisory services to financial advisors and their clients. An independent subsidiary of New York Life Insurance Company, over the years New York Life Investments has added to its boutique of investment advisors. This includes MacKay Shields (acquired by New York Life in 1984),[3] Markston International, LLC (1999),[4] New York Life Fixed Income Advisors (2004),[4] Winslow Capital Management (2005), Epoch Investment Partners (2006),[5] MacKay Municipal Managers (2009), Cornerstone Capital Management (2013),[6] Cushing Asset Management (2014),[7] and IndexIQ (2015).[8]
The Mainstay brand was launched in 1986 shortly after MacKay Shields, first offered to retail and then to institutional investors in 1991.[9]
In 2015, the acquisition of IndexIQ introduced liquid alternative investment exchange-traded funds to its product offerings.[9] In June 2024, New York Life announced that its Mainstay and IndexIQ funds would be renamed to reflect the New York Life brand, with the names of funds beginning with NYLI.[10]
Together with sister New York Life subsidiary Candriam, New York Life Investments Alternatives acquired a one-third ownership stake in Kartesia Management in late 2020.[11] Candriam was identified as a subsidiary of New York Life Investments in December 2024, with.Kartesia, Apogem Capital and European real estate manager Tristan Capital Partners each noted as affiliated investment teams. That month, New York Life Investments partnered with Candriam to acquire a 40% minority stake in Andera Partners.[12] The company's assets under management were reported at over $750 billion in December 2024.[1]