Pan-European asset management firm Candriam Investors Group has taken a 40% stake in private equity property investment management firm Tristan Capital Partners for an undisclosed sum.
It marks the first move into European private equity property investment management for Luxembourg-based Candriam, an affiliate of New York Life Investment Management.
Under the deal Tristan will retain its existing management and investment autonomy.
Yie-Hsin Hung, chief executive of New York Life Investment Management, said: “This strategic partnership further demonstrates our commitment to expanding our alternatives capabilities.”
Candriam has over €112 billion and Tristan has €9.1 billion in assets under management.
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