Candriam Investors Group, a pan-European asset management firm, has acquired a 40% equity stake in Tristan Capital Partners, a private equity property investment management firm, for an undisclosed sum.
The acquisition marks the foray of Candriam into European private equity property investment management space.
With 105 employees in eight locations, Tristan offers a distinctive research-led approach to investing capital. It currently manages €9.1bn in assets.
Candriam, a Luxembourg-based affiliate of New York Life Investment Management, said that this deal will enable it to add real estate to its multi-specialist offerings. The company’s existing offerings include investment solutions in fixed income, equities, alternatives, sustainable investments and asset allocation strategies.
Commenting on the deal, New York Life Investment Management CEO Yie-Hsin Hung said: “We are fully supportive of Candriam’s expansion into the real estate market with Tristan Capital Partners.
“The boutiques within our growing global asset management business offer a powerful, diverse range of insights and differentiated strategies to our clients, and this strategic partnership further demonstrates our commitment to expanding our alternatives capabilities.”
Candriam CEO Naïm Abou-Jaoudé commented: “As we grow our investment offerings and operations in Europe, we continue to seek strategic relationships and acquire complementary capabilities. Tristan Capital Partners is a true expert real estate manager. They have built an impressive track record and a strong and loyal client portfolio.”
Tristan Capital Partners chairman and co-CEO Ric Lewis added: “Candriam and New York Life are strong partners for Tristan, our clients and our future growth. Their culture of investment management excellence and commitment to exemplary investment performance, client service and the development of new strategies and capabilities to serve clients’ emerging needs were the factors that ultimately led to this strategic partnership.”