New York Life Investment Management to Buy Majority Stake in Invictus

New York Life Investment Management has agreed to acquire a majority stake in Invictus Capital Partners, a U.S. residential credit manager with more than $20 billion in gross assets. The deal adds mortgage sourcing, underwriting and securitization capabilities to NYLIM’s private markets platform and gives New York Life’s general account a new source of residential mortgage investments. Invictus has acquired more than $48 billion in residential loans over the past decade and completed over 90 securitizations. Its leadership team will remain in place and retain a significant ownership stake. The firms did not disclose the purchase price or expected closing date.