Pan-European asset manager Candriam Investors Group has acquired a 40% stake in Tristan Capital Partners with an option to increase its share in the future.
This marks the first steps into European private equity real estate for Candriam, which has AUM of €112bn (£98.5bn) across sectors including fixed-income, equities and alternatives.
Tristan, which has a €9.1bn real estate AUM, will retain its existing management and investment independence. Its operation spans eight locations across Europe and has invested close to €15bn in real estate in the past 18 years.
Ric Lewis, chairman and co-chief executive of Tristan, said: “Through the strategic partnership with Candriam, we will be in an even stronger position to pursue our current and future business plan and to offer more attractive opportunities, products and strategies to our existing and future clients.”
He added that Candriam, which is affiliated with New York Life Investment Management, provides an “excellent strategic fit”, combining Tristan’s understanding of the European market with a global investment platform.
Naïm Abou-Jaoudé, chief executive of Candriam and chairman of New York Life Investment Management International, added: “As we grow our investment offerings and operations in Europe, we continue to seek strategic relationships and acquire complementary capabilities.
“Both our firms share the same values and strong corporate culture that have shaped our respective success.
“I am convinced that this strategic partnership will allow Tristan to further accelerate growth and capitalise on the growing demand for real estate investments.”
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