New York Life Investment Management has agreed to acquire a majority stake in Invictus Capital Partners, expanding its private credit business into residential mortgages.
Washington-based Invictus manages more than $20 billion in gross assets focused on U.S. single-family residential credit. Its affiliate Verus Mortgage Capital sources and operates loans, giving the firm capabilities spanning underwriting, financing and securitization. Since 2015, Invictus has acquired more than $48 billion of residential loans and completed over 90 securitizations totaling more than $45 billion.
The acquisition will add those capabilities to New York Life Investment Management’s approximately $304 billion global private markets platform. The manager had about $838 billion in total assets under management as of June 30. New York Life also plans to make a significant multiyear capital commitment to Invictus.
“Invictus has built a differentiated residential credit platform combining deep investment expertise with scaled proprietary sourcing and securitization capabilities,” said Naïm Abou-Jaoudé, CEO of New York Life Investment Management.
Invictus’ leadership team will remain in place and retain a significant ownership stake.
The companies did not disclose the purchase price or the size of the stake. The transaction is expected to close in the first quarter of 2027.
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