New York Life Real Estate Investors Announces The Closing Of Its First Dedicated National Value-Added Vehicle, The Madison Square Value Enhancement Fund

NEW YORK, June 25, 2018 /PRNewswire/ -- New York Life Real Estate Investors announced today the closing of its first dedicated national value-add vehicle, The Madison Square Value Enhancement Fund ("the Fund").  The closed-end Fund, with more than $300 million of committed capital, will invest in office, multifamily, and industrial assets in primary and secondary markets in the United States. The Fund investors include New York Life Insurance Company and Clal Insurance, one of the largest insurance companies in Israel. 

"We are very focused on creating solutions that meet client needs. This has been a target opportunity for us due to product attractiveness and investor demand, while also offering a compelling synergy with our current pipeline and capabilities. The Fund marks an important milestone for our third-party investment management business while also helping New York Life to achieve additional portfolio diversification," said Mark Talgo, head of New York Life Real Estate Investors.

"The new Fund fills an important role in our third-party offerings," said Paul Behar, head of Business Development at New York Life Real Estate Investors. "While we invest in value-added transactions through a regional fund and a non-core bucket within our core open-end fund, this would mark our first dedicated national value-added vehicle. This program allows us to meet the needs of third-party investors who are seeking geographic diversification and higher returns. And it is clear to us that Clal is very well aligned with our firm and would be the right investor with which to launch our inaugural third party value added program."

Anath Levin, deputy CEO and head of Finance, Credit and the Investment Division of Clal Insurance noted the importance of the program and relationship with New York Life. "Clal Insurance is proud to take part in this new venture with New York Life.  Clal leads the Israeli market with ground breaking global illiquid transactions and considers the cooperation with New York Life a part of our long-term strategy that will constitute a central pillar of the firm's real estate activity in the United States. We chose to partner with New York Life as we have great appreciation for their professional capabilities and highly value the quality of the investment team. We are confident that this new partnership brings much benefit to both firms, and believe that it is the cornerstone of a much larger investment platform."

About Clal Insurance

Clal Insurance, one of the largest insurance companies in Israel with over $50 billion in AUM and more than 4,000 employees, provides financial solutions, including insurance, pension funds, provident funds, mutual funds and investments. Clal Insurance Company is primarily involved in life insurance, non-life insurance, healthcare insurance, long-term savings, and financial services. The company's life insurance products include key life-products such as annuities, endowment, health insurance and a universal life insurance. Non-life insurance products include motor, commercial property, homeowners, travel insurance, employers' liability, third-party liability and other industrial risks.

About New York Life Real Estate Investors

New York Life Real Estate Investors is a division of NYL Investors LLC, a wholly-owned subsidiary of New York Life Insurance Company. Please visit New York Life Real Estate Investors' website at http://www.newyorklife.com/realestateinvestors for more information.

New York Life Real Estate Investors is a full service, fully-integrated real estate enterprise with more than 100 professionals. The division has market-leading capabilities in origination, underwriting, and investment in real estate equity products and related debt, including real estate equity investments, commercial mortgage loans, commercial mortgage backed securities, and unsecured REIT bonds. With $53.4 billion in assets under management as of December 31, 2017, New York Life Real Estate Investors is actively seeking to acquire additional properties throughout the U.S.

About New York Life

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.  Visit www.newyorklife.com for more information. 

New York Life Investment Management LLC, an indirect subsidiary of New York Life Insurance Company, New York, NY 10010, provides investment advisory products and services. IndexIQ Advisors LLC is the wholly owned subsidiary of New York Life Investment Management Holdings LLC.

*Based on revenue as reported by "Fortune 500 ranked within Industries, Insurance: Life, Health (Mutual)," Fortune magazine, 5/21/18. For methodology, please see http://fortune.com/fortune500/.

**Individual independent rating agency commentary as of 8/1/17.

***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.

Media Contact: 
Jacqueline Meere
New York Life Insurance Company
212-576-5301
[email protected]

SOURCE New York Life

Related Links

http://www.newyorklife.com