The latest M&A deals in wealth and asset management.

Candriam Group 
Candriam Group, a New York Life Investments Company, this week reached an agreement to purchase an additional 31 per cent interest in pan-European real estate investment manager Tristan Capital Partners, taking its total investment to 80 per cent by mid-2023. 

The remaining 20 per cent of Tristan will still be held by its senior team, ensuring the long-term alignment of interests and continued incentivisation of its growing team, the firm said in a statement. 

Tristan, which manages over €15 billion ($16 billion) of assets for institutional and private investors, will maintain investment management autonomy, as it has done for the past five years, while benefiting from the operating and financial resources, distribution network and scale of both Candriam and New York Life Investments. 

There will be no changes to Tristan’s management leadership.  Ric Lewis will continue as executive chair of Tristan, chair of the investment committee, and chair of the holding company. Ian Laming will continue as CEO and Cameron Spry and Ric Lewis will continue as co-CIOs, the firm said. 

The transaction is in alignment with Candriam’s growth strategy to expand its private assets offering through this partnership, given the strong institutional investor demand and long-term growth trends. 

Candriam’s multi-specialist capabilities include investment solutions in sustainable investments, fixed income, equities, asset allocation, absolute return strategies, private credit, and real estate.  

Ric Lewis, founder, executive chairman and co-CIO of Tristan Capital Partners, said: “Tristan, Candriam, and New York Life Investments first entered into a strategic partnership five years ago. During this time, we have built a powerful alliance based on mutual respect and the understanding of the importance of preserving Tristan’s entrepreneurial culture, investment philosophy, and discipline. This next step is a testament to the success of our partnership to date.”  

Candriam is a European multi-specialist asset manager, with around €140 billion of assets under management and management offices in Luxembourg, Brussels, Paris, and London.