New York Life Investments has signed an agreement to acquire a majority stake in Private Advisors, an alternative investment firm based in Richmond, Virginia.
With $3.9 billion in assets under management, Private Advisors has a 13-plus year track record across a range of fund of funds, including the firm’s flagship low volatility multi-strategy fund, which launched in 1998. The firm won the event driven and distressed category of the 2006 InvestHedge Awards for its Private Advisors Distressed Opportunities Fund.
“Private Advisors has a long history of delivering risk-adjusted investment returns, with a strong focus on capital preservation. The