CANDRIAM, NY Life team up with Kartesia Management

In a deal that is set to close in weeks, CANDRIAM and its sister affiliate New York Life Investments Alternatives (NYLIA) are forming a strategic partnership with European private markets firm Kartesia Management SA. The terms of the deal have not been disclosed, but Kartesia brings €2.8 billion euros ($3.4 billion) in assets under management and an expertise across the European secondary and primary leveraged loan market including senior debt, mezzanine, minority equity interest and CLO liabilities. Luxembourg-based Kartesia has offices in Brussels, Frankfurt, London, Madrid, Munich and Paris. The partnership will add European private credit to $144 billion CANDRIAM's multi-specialist offerings and in the U.S. complement the strong U.S. private credit capabilities of NYLIA. Under the 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. Kartesia’s track record across Europe’s lower mid-market over the last decade was one of the attractive attributes, according to Naïm Abou-Jaoudé, CEO of CANDRIAM and Chairman of New York Life Investment Management International. “We are thrilled to welcome Kartesia,” added Christopher Taylor, CEO of Madison Capital Funding and head of New York Life Investments Alternatives. “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.” CANDRIAM’s ESG investing and strong European distribution platform combined with New York Life Investments Alternatives’ reputation in the U.S. and Asia make the partnership ideal for Kartesia, said Jaime Prieto and Damien Scaillierez, managing partners of Kartesia Management.

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