New York Life Investment Management announced Monday an agreement to acquire a majority stake in Invictus Capital Partners L.P., a real estate credit manager that focuses on U.S. single-family residential credit.
The transaction is expected to close in the first quarter of 2027, pending regulatory approval. The amount of NYLIM’s investment was not disclosed.
The investment in Invictus will add access to its proprietary loan sourcing and operations platform, Verus Mortgage Capital. Invictus manages $20 billion in assets. NYLIM manages $838 billion in assets, including $304 billion across its private markets platform.
“Invictus has built a differentiated residential credit platform combining deep investment expertise with scaled proprietary sourcing and securitization capabilities,” said Naïm Abou-Jaoudé, New York Life Investment Management’s CEO, in a statement. “These are difficult capabilities to replicate and highly complementary to New York Life’s permanent capital and NYLIM’s institutional franchise. Together, we see significant opportunity to expand our residential credit capabilities and deliver differentiated solutions to insurers and other institutional clients.”
The investment is one of many general-partner-stake deals NYLIM has made in recent years. In 2024, the firm acquired a minority interest in European alternative investment manager Andera Partners. The firm also combined a handful of boutique asset managers in 2022 to form Apogem Capital.
“We see significant opportunity in a growing U.S. single-family residential credit market, where strong fundamentals and structural inefficiencies continue to create attractive investment opportunities,” said Invictus CEO Michael Warden in a statement. “Together, we are well positioned to grow the business and serve a broader range of institutional investors.”
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