New York Life IM Takes Minority Stake in Bow River Advisers
New York Life Investment Management (NYLIM) has formed a strategic partnership with Bow River Advisers, a subsidiary of Denver-based private alternative asset manager Bow River Capital.
The minority ownership combines NYLIM’s distribution and client services with Bow River Advisers’ private markets and portfolio management experience, the firms noted.
NYLIM will serve as distribution partner for the Bow River Capital Evergreen Fund, an interval fund launched in May 2020 that provides access to a diversified portfolio of private equity investments.
The fund has a minimum investment of $50,000 for accredited investors.
“Our partnership with New York Life Investment Management provides significant resources that will allow us to broaden the Fund’s investor base while remaining focused on portfolio management and the Fund’s day-to-day operations,” said Jeremy Held, managing director, Bow River Advisers and president of the Evergreen Fund.
Bow River Capital focuses on the lower and middle markets of private credit, private equity, real estate, and software growth equity.
NYLIM had more than $687 billion in assets under management as of September 30, 2023.