Fri, Mar 29, 2024
A A A
Welcome Guest
Free Trial RSS pod
Get FREE trial access to our award winning publications
Industry Updates

CANDRIAM and New York Life Investments Alternatives take a minority stake in Kartesia Management SA

Thursday, December 10, 2020
Opalesque Industry Update - CANDRIAM, and its sister affiliate New York Life Investments Alternatives, announced today a strategic partnership with Kartesia Management SA, a European specialist provider of private capital solutions for small and mid-sized companies, and the related acquisition of a minority stake in the firm. 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 is a leading European private markets investor with 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 strong U.S. private credit capabilities of NYLIA.

Naïm Abou-Jaoudé, CEO of CANDRIAM and Chairman of New York Life Investment Management International, commented:

"We are excited to partner with Kartesia to add European private credit to our multi-specialist offerings. Kartesia has built an impressive track record across Europe's lower mid-market over the last decade and has core values that are highly aligned with those of CANDRIAM and our affiliate, New York Life Investments Alternatives. Under this partnership, I am confident that the combination of our strengths will benefit our clients, as we navigate the dynamics of the current global market environment."

Christopher Taylor, CEO of Madison Capital Funding and Head of New York Life Investments Alternatives, added:

"We are thrilled to welcome Kartesia. As one of Europe's leading private credit investors, Kartesia brings extensive experience financing small and middle-market companies that complements our expanding global alternatives capabilities. We look forward to leveraging the partnership with Kartesia as we continue to grow and diversify our businesses to meet the needs of our clients in all market environments, over the years to come."

Jaime Prieto and Damien Scaillierez, Managing Partners of Kartesia Management SA, concluded:

"We are enthusiastic to create a partnership that will strengthen the Kartesia platform and bring further growth opportunities to our team and our clients. CANDRIAM's distinction in ESG investing and strong European distribution platform combined with New York Life Investments Alternatives' reputation in the US and Asia as a focused player in the middle market make this an ideal partnership for us as we continue to strategically grow and evolve our business."

What do you think?

   Use "anonymous" as my name    |   Alert me via email on new comments   |   
Previous Opalesque Exclusives                                  
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. KKR raises $6.4bn for the largest pan-Asia infrastructure fund[more]

    Laxman Pai, Opalesque Asia: The New York-based global investment firm KKR has raised a record $6.4bn for its second Asia-focused infrastructure fund, underlining investors' continued appetite for private markets. According to a media release from the alternative assets manager, the figure top

  2. Bucking the trend, top hedge fund makes plans for a second SPAC[more]

    From Institutional Investor: SPACs aren't dead. At least not to the folks at Cormorant Asset Management. The life sciences firm, whose hedge fund topped its peers in 2023, is confident it will match the success of its first blank-check company. Last week, the life sciences and biopharma speciali

  3. Benefit Street Partners closes fifth fund on $4.7 billion[more]

    Bailey McCann, Opalesque New York: Benefit Street Partners has closed its fifth flagship direct lending vehicle, BSP Debt Fund V, with $4.7 billion of investable capital across the strategy. Benefit Street invests primarily in privately originated, floating rate, senior secured loans. The fun

  4. 4 hedge fund themes that are working in 2024[more]

    From The Street: A poor earnings report from Tesla (TSLA) has not hurt the indexes on Thursday. The decline in Tesla stock, which is losing its position in the Magnificent Seven pantheon, is more than offset by strong earnings from IBM (IBM) and ServiceNow (NOW) . In addition, the much higher-t

  5. Opalesque Exclusive: A global macro fund eyes opportunities in bonds[more]

    Bailey McCann, Opalesque New York for New Managers: Munich-based ThirdYear Capital rebounded in 2023, following a tough year for global macro. The firm's flagship ART Global Macro strategy finished the year up 1