Candriam enters real estate through Tristan partnership

Tristan Capital Partners has formed a partnership with Brussels-headquartered firm Candriam, a subsidiary of U.S. asset manager New York Life Investments.

Candriam acquired a 40 percent stake in Tristan. The deal allows Candriam to add real estate funds to its offering for the first time.

“We are constantly developing our investment offering and presence in Europe,” said Naïm Abou-Jaoudé, CEO of Candriam and chairman of New York Life Investment Management International. “To do this, we enter into strategic partnerships and participate in companies that complement our skills. Tristan Capital Partners is a true real estate expert.”

The management of Tristan remains unchanged. Tristan will continue to invest on its own.

Tristan specializes in private equity real estate; specifically it invests in properties that require redevelopment or improved management, the value of which it can enhance for later sale.