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  • Seller
  • Buyer
  • Type
  • Date Announced
  • Seller AUM
  • Credit Value Partners, LP
  • New York Life Investments
  • Credit
  • January 4, 2017
  • $2.5 Billion

Seller Details

Credit Value Partners is a specialist in high yielding and opportunistic corporate debt investments. CVP currently has over $2 billion of regulatory assets under management. CVP manages co-mingled funds as well as separately managed accounts. CVP’s investors include public and private pension funds, insurance companies, family wealth offices and high net worth investors.

Buyer Details

New York Life Insurance Company, a Fortune 100 company founded in 1845, is the largest mutual life insurance company in the United States* and one of the largest life insurers in the world.  New York Life has the highest possible financial strength ratings currently awarded to any life insurer from all four of the major credit rating agencies: A.M. Best (A++), Fitch (AAA), Moody's Investors Service (Aaa), Standard & Poor's (AA+).**  Headquartered in New York City, New York Life's family of companies offers life insurance, retirement income, investments and long-term care insurance.  New York Life Investments*** provides institutional asset management.  Other New York Life affiliates provide an array of securities products and services, as well as retail mutual funds.

*Based on revenue as reported by "Fortune 500 ranked within Industries, Insurance: Life, Health (Mutual)," Fortune magazine, 6/17/16. 
**Individual independent rating agency commentary as of 6/9/16.  
***New York Life Investments is a service mark used by New York Life Investment Management Holdings LLC and its subsidiary, New York Life Investment Management LLC.

Transaction Summary

The addition of CVP represents another step in New York Life Investments' commitment to offering investors a broad range of alternative investment solutions that today include private equity, mezzanine, equity co-investing, middle market lending, real estate, hedged strategies and real assets. These strategies are managed by New York Life Investments and its boutiques, which include Candriam Investors Group, Cornerstone Capital, GoldPoint Partners, IndexIQ, MacKay Shields and Private Advisors.
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