New York Life Investments to Acquire 60% Stake in Private Advisors

December 3, 2010

On December 2, 2010, New York Life Investments announced it has agreed to acquire a 60% majority interest in Richmond-based Private Advisors, LLC.


On December 2, 2010, asset manager New York Life Investments announced that it has signed an agreement to acquire a 60% stake in Private Advisors, LLC.  Private Advisors, a Richmond, Virginia-based alternative investment firm, currently has $3.9 billion in assets under management.  Private Advisors will operate autonomously within the New York Life Investments multi-boutique structure.  NYLI, a provider of retirement plans for corporations, multi-employer trusts, and individuals, currently manages over $275 billion in assets.  The parties expect the transaction to be completed on or about December 31, 2010.

To read the press release, please click here.


Categories

Hedge Fund M&A, Investment Manager M&A, Transactions