EIG currently consists of several quantitative investment teams organized by style — core, growth and international — in various capitalization ranges. Each investment team employs models and processes that are unique to each product, according to the firm, which will remain a wholly-owned subsidiary of New York Life Investment Management.
“The launch of Madison Square Investors reflects our commitment to the multi-boutique institutional business model. It is our belief that by organizing around small, disciplined and autonomous investment teams, we are better positioned to offer continuity of people, process and performance across the enterprise,” said John Kim, president and chief executive officer of New York Life Investment Management (see Kim to Head Up NYLIM ).
At the independent boutique, the investment teams will continue to offer both traditional and alternative solutions for institutional investors, including 130-30 and absolute return strategies. These equity and balanced products are, and will continue to be, extended to retail investors through MainStay Funds and MainStay Managed Accounts, according to the announcement.
“As an independent boutique, Madison Square Investors will be better positioned to achieve a number of important growth objectives by enhancing our ability to offer new products in a form and risk profile desired by institutional and retail investors,” said Tony Elavia, CIO of EIG and soon-to-be CEO and CIO of Madison Square Investors LLC.
“We believe the boutique structure will enforce even greater investment team stability and investment performance for the long-term,” concluded Elavia.