On January 4, 2017, New York Life Investments announced it had signed an agreement to invest in Credit Value Partners, LP.
The deal, for a majority stake in CVP, is expected to close in the first quarter of 2017. Further terms of the deal were not disclosed.
New York Life Investments is the global asset management division of New York Life Company (“New York Life”). New York Life is a Fortune 100 company, and based on revenue the largest mutual life insurance company in the United States. Credit Value Partners (“CVP”) is a boutique firm that focuses on distressed debt and high yield corporate credit investing.
Berkshire Capital Securities LLC acted as exclusive financial advisor to CVP in connection with this transaction.
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