New York Life Investment Management acquires alternative ETF provider IndexIQ
New York Life Investment Management agreed to purchase IndexIQ, a developer of liquid alternative exchange-traded funds, an IndexIQ spokesman said.
Terms were not disclosed. The transaction is expected to close in the first half of 2015.
Upon closing, IndexIQ's 12 ETFs will be integrated and marketed through NYLIM's MainStay Investments multiboutique platform as MainStay IQ, the spokesman said. It is NYLIM's first move into ETFs, a news release from the firm said.
