Luxembourg-headquartered asset manager Candriam on Wednesday announced the launch of a new alternative investments platform as a response to growing demand for diverse alternative investment solutions in today’s market environment.
The firm, which has some 144 billion euro in assets under management and which is part of the New York Life investments company, said the platform realigns its alternative investments capabilities into a single, unified platform. It brings together a range of specialised teams, including the Absolute Return Quantitative Equity, Quantitative Multi Asset, and Multi Management teams.
The Candriam Alternative Investments platform will have more than 23 billion euro under management. Candriam said it will also be increasing its efforts in ESG integration within its alternative investments and looks forward to launching new innovative ESG-focused absolute return solutions, furthering its dedication to responsible investing.
“We are confident that the appetite for alternative strategies will continue to grow, offering an attractive option for diversification and favourable risk-return profiles,” said Nicolas Forest, CIO of Candriam, in a statement. “The unification of our alternative investments represents an exciting evolution for Candriam, bringing together our deep expertise across different teams and solutions. Our aim is to provide even richer insights and more innovative alternative solutions to our clients.”
Steeve Brument
Steeve Brument (photo) has been appointed as global head of alternatives at Candriam and will lead the new division. He previously served as head of multi asset quantitative strategies and deputy head of multi asset at Candriam and has been at the firm for 20 years. He will work with a team of 34 investment professionals dedicated to alternative investment solutions, will report directly to Forest and will also become a member of Candriam’s Executive Committee.
In Luxembourg, regarded as a key global hub for alternative investments, Candriam also is registered as an Alternative Investment Fund Manager, or AIFM, subject to reporting to Luxembourg’s financial supervisory authority CSSF. The firm’s history in the Grand Duchy dates back to 2004 as a former subsidiary of Belgian bank Dexia, which was renamed as Candriam Luxembourg in 2014. In 2022 the Luxembourg vehicle was renamed to ‘Candriam’ and since then serves as the group’s main legal entity.
New York Life acquired Dexia’s asset management business in 2013 for 380 million euro. Former Dexia Asset Management CEO Naïm Abou-Jaoudé in June was appointed as CEO of New York Life. Dexia was nationalised in Belgium in 2011 following the Great Financial Crisis and a four billion euro taxpayer bailout.
Abou-Jaoudé served a two-year term as president of the European Fund and Asset Management Association, or Efama, up to June 2023.