New name shines for New York Life Capital Partners
By Arleen Jacobius | December 4, 2012 4:13 pm
New York Life Capital Partners, the private equity arm of New York Life Investment Management, changed its name to GoldPoint Partners, effective immediately, said Thomas Haubenstricker, who remains CEO at GoldPoint.
“This is really a renaming, a rebranding of the group. We have the same team, the same strategy, the same approach and the same ownership structure,” Mr. Haubenstricker said in an interview.
“We really felt like rebranding is way of catching up where we are as a firm,” he said. The name is a nod to the parent firm, whose iconic building in New York is topped with a gold tip.
Steven M. Benevento, chief investment officer, said in the same interview, “We have the best of both worlds. We are an independent entity from an operations standpoint but we have significant anchor capital in each of our products.”
New York Life Investment Management will continue to be an anchor investor in GoldPoint's funds, Mr. Benevento said. The percentage of capital committed has been diminishing, to 30% and less in the most recent funds from around 40% of each fund, as GoldPoint raises larger and larger funds, he added.
GoldPoint has $9 billion in assets under management.