| New York Life Investment Management LLC | |
| Former Name: | MainStay Investments |
| Type: | Subsidiary |
| Location: | Jersey City, New Jersey, U.S. |
| Industry: | Investment Management |
| Key People: | Naïm Abou-Jaoudé (CEO) |
| Products: | Asset Management |
| Aum: | US$674 billion (March 31, 2023) |
| Parent: | New York Life Insurance Company |
New York Life Investment Management LLC[1] is a U.S. investment management company based in Jersey City, New Jersey. Founded in 1986, New York Life Investment's parent company is New York Life Insurance Company, the largest mutual life-insurance company in the United States, and one of the largest life insurers in the world, ranking #71 on the 2023 Fortune 500 list.[2]
New York Life Investments offers investors access to institutional money management through its mutual funds, exchange-traded funds (ETFs), separately managed accounts, and non-traditional strategies. New York Life Investments has over $674 billion USD in assets under management.[3]
Founded in 1986, New York Life Investments provides investment advisory services to financial advisors and their clients. An independent subsidiary of New York Life Insurance Company, over the years New York Life Investments has added to its boutique of investment advisors. This includes MacKay Shields (acquired by New York Life in 1984),[4] Markston International, LLC (1999),[5] New York Life Fixed Income Advisors (2004),[5] Winslow Capital Management (2005), Epoch Investment Partners (2006),[6] MacKay Municipal Managers (2009), Cornerstone Capital Management (2013),[7] Cushing Asset Management (2014),[8] and IndexIQ (2015).[9]
The Mainstay brand was launched in 1986 shortly after MacKay Shields, first offered to retail and then to institutional investors in 1991.[10]
In 2015, the acquisition of IndexIQ introduced liquid alternative investment exchange-traded funds to its product offerings.
In 2024, New York Life announced that its Mainstay and IndexIQ funds would be renamed to reflect the New York Life brand, with the names of funds beginning with NYLI.[11]