New York Life Investments
| Company type | Subsidiary |
|---|---|
| Industry | Investment management |
| Founded | 1986 |
| Headquarters | Jersey City, New Jersey , United States |
| Products | Mutual funds, exchange-traded funds (ETFs), separately managed accounts, alternative investment strategies |
| Parent | New York Life Insurance Company |
New York Life Investment Management LLC operates as an investment management company headquartered in Jersey City, New Jersey, within the United States. Established in 1986, it functions as a subsidiary of New York Life Insurance Company, recognized as the largest mutual life-insurance provider in the U.S. and positioned at number 71 on the 2023 Fortune 500 ranking.
Offering institutional investment solutions, New York Life Investments manages assets through mutual funds, exchange-traded funds (ETFs), separately managed accounts, and alternative investment strategies. As of 2024, its assets under management total more than $750 billion.
History
Since its inception in 1986, New York Life Investments has grown by integrating several boutique advisory firms, including MacKay Shields (established 1984), Markston International (1999), New York Life Fixed Income Advisors (2004), Winslow Capital Management (2005), Epoch Investment Partners (2006), MacKay Municipal Managers (2009), Cornerstone Capital Management (2013), Cushing Asset Management (2014), and IndexIQ (2015).
The Mainstay brand was introduced in 1986 and began catering to institutional clients starting in 1991. The acquisition of IndexIQ in 2015 expanded its range of liquid alternative ETFs. In June 2024, funds under the Mainstay and IndexIQ brands were consolidated and rebranded under the New York Life Investments umbrella, with fund names adopting the NYLI prefix.
In late 2020, New York Life Investments Alternatives, together with its affiliate Candriam, acquired a one-third ownership interest in Kartesia Management. By December 2024, Candriam had been designated as a subsidiary of New York Life Investments, alongside associated entities Kartesia, Apogem Capital, and Tristan Capital Partners. That same month, New York Life Investments and Candriam jointly secured a 40% minority stake in Andera Partners. The total assets managed surpassed $750 billion as of December 2024.