Candriam Group, a European asset manager owned by the New York Life Investments, is taking an additional 31% stake in Tristan Capital Partners.
The deal means Candriam’s holding in Tristan will hit 80% by mid-2023. The remaining 20% will continue to be held by Tristan’s senior team, which will remain unchanged.
Ric Lewis, Tristan’s founder and executive chairman, said the new investment is “a testament to the success of our partnership to date”. Candriam first invested in Tristan in 2018, taking an initial 40%.
Lewis added: “Our business is well positioned for growth ahead of the next European real estate cycle; we completed our largest-ever capital raise in our latest opportunistic fund, we have successfully diversified the business to include debt strategies, and we have dry powder across all our fund series.”
Tristan secured €2bn (£1.76bn) last month for its European Property Investors Special Opportunities 6 Fund, which is targeting a 12-14% triple IRR through investments in Western and Central European office, logistics, residential, hospitality and life science real estate.
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