New York Life Investments partners with CBRE to add global infrastructure and real estate strategies to fund family
New York Life Investments is bringing additional alternative investment funds into its MainStay Fund lineup through a strategic partnership with CBRE Global Investors.
The partnership includes the launch of two mutual funds – the MainStay CBRE Real Estate Fund (CLARX) and the MainStay CBRE Global Infrastructure Fund (VCRAX), both sub-advised by CBRE Clarion Securities, the listed securities investment management arm of CBRE Global Investors.
"As we navigate late-cycle economic conditions, investors are increasingly seeking real assets strategies that offer an attractive combination of income, stability and growth potential over the long term," says Kirk Lehneis, Chief Operating Officer of New York Life Investment Management. "We are thrilled to partner with CBRE, a real assets industry leader, to bring to market institutional-quality alternatives strategies that align with our clients' portfolio construction needs."
The MainStay CBRE Real Estate Fund invests in REITs, real estate owners, real estate managers, real estate brokers, real estate dealers, and companies with substantial real estate holdings. The MainStay CBRE Global Infrastructure Fund invests in a globally diversified portfolio of securities issued by infrastructure companies across the utilities, communications, energy, transportation, and other sectors.
"We are delighted to partner with New York Life Investments to offer our alternative strategies through its premier retail, marketing, and distribution organisation," says Ritson Ferguson, CEO of CBRE Clarion Securities. "As long-term strategic allocations, real estate and global infrastructure may play essential roles in investor portfolios and are particularly valuable in the current economic climate."
Both the MainStay CBRE Real Estate Fund and the MainStay CBRE Infrastructure Fund are team managed. Portfolio Manager and CBRE Clarion Infrastructure CIO Jeremy Anagnos will manage the MainStay CBRE Global Infrastructure Fund along with Associate Portfolio Managers Daniel Foley and Hinds Howard. CBRE Clarion President, Chief Investment Officer and lead Portfolio Manager Joseph Smith will manage the MainStay CBRE Real Estate Fund along with Portfolio Managers Kenneth Weinberg and Jonathan Miniman.