New York Life Investment Management Announces The Formation of a New Affiliate.Business Editors PARSIPPANY, N.J.--(BUSINESS WIRE)--March 26, 2001 New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of Life Investment Management (NYLIM NYLIM New York Life Investment Management LLC ), a wholly-owned subsidiary of New York Life Insurance Company The New York Life Insurance Company (NYLIC) is the largest mutual life-insurance company in the United States, and one of the largest life insurers in the world.[3] , today announced the formation of Madison Capital Funding LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control (Madison Capital). Madison Capital is being formed with six founding partners and will be funded by the NYLIM organization. Based in Chicago, Madison Capital's business is focused on the corporate financing needs of middle market financial sponsors. The company provides leveraged capital in support of sponsors' investments in buyouts, acquisitions and recapitalizations. Madison Capital will structure, underwrite and arrange senior debt transactions from $15 million to $200 million. "We feel it is an excellent time to enter the leveraged senior debt market," said Gary Wendlandt, chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of NYLIM, "and this new business extends our service offerings to include yet another asset class." Madison Capital's management is made up of the following six individuals: Terry Capsay, Trevor Clark, Tom Klimmeck, Craig Lacy, Hugh Wade and Chris Williams. "We are pleased to add the expertise of these investment management professionals to NYLIM's exceptional investment team," Wendlandt continued. "This group of individuals has proven individually and as a team that they have the same entrepreneurial spirit upon which NYLIM is based." With over $116 billion in assets under management Assets Under Management (AUM) is a term used by financial services companies in the mutual fund and money management or investment management business to gauge how much money they are managing. as of December 30, 2000, NYLIM and its affiliates provide investment management and related services to a wide range of individual, institutional, and corporate clients, including a prestigious roster of Fortune 500 companies. The firm, through its affiliates, also serves individual and institutional shareholders as the investment advisor Investment Advisor 1. A person making investment recommendations in return for a flat fee or percentage of assets managed, known as a commission. 2. For mutual fund companies, it is the individual who has the day-to-day responsibility of investing and monitoring the cash and to two mutual funds families, and is widely recognized for its leadership in bundled defined contribution and bundled defined benefit retirement plans, guaranteed products, real estate management, and benefits consulting services. Securities are offered through NYLIFE Distributors Inc., 300 Interpace Parkway, Building A, Parsippany, NJ, 07054. |
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