– New York Life Investment Management (NYLIM), with approximately $838 billion in assets under management, has entered into a definitive agreement to acquire a majority ownership stake in Invictus Capital Partners.
– Invictus is a U.S. single-family residential credit investment manager with more than $20 billion in gross assets under management.
– The transaction will expand NYLIM’s approximately $304 billion global private markets platform with Invictus’s residential credit capabilities and proprietary sourcing and operations platform, Verus Mortgage Capital.
– The combined platform will cover residential mortgage sourcing, underwriting, financing, securitization and asset management.
– Over the past decade, Invictus has acquired more than $48 billion of residential loans and completed more than 90 residential mortgage-backed securities (RMBS) securitizations.
– The deal supports NYLIM’s strategy to expand its private credit and asset-based finance capabilities, while providing institutional investors, including insurers, with access to the U.S. single-family residential credit market.
– Naïm Abou-Jaoudé, CEO of NYLIM, said Invictus combines deep investment expertise with scaled proprietary sourcing and securitization capabilities, which he described as difficult to replicate and complementary to NYLIM’s permanent capital and institutional franchise.
– Michael Warden, CEO of Invictus, said NYLIM’s capital strength, global reach and long-term orientation complement Invictus’s existing platform and create opportunities to serve a broader range of institutional investors.
