New York Life Investments, a US money manager and its European affiliate Candriam, have entered a partnership under which New York Life, through its affiliate network, will take a 40% minority stake in Andera Partners, the Paris-based investment group. The goal is to jointly expand their pool of clients. Financial terms of the transaction were not disclosed. Andera manages €4.3 billion in assets for institutional and private investors. New York Life has a much deeper portfolio with assets under management of $750 billion.
