NEW YORK—New York Life Insurance Co. has agreed to commit up to $100 million for Jaguar Growth Partner's first fund, which plans to buy stakes in property companies across Latin America, China and India, according to a Wall Street Journal report.
Jaguar Growth Partners, is a new private-equity firm established by former executives of Sam Zell 's Equity International. That fund aims to raise up to $1 billion, say the Journal's unnamed sources.
In addition, New York Life is taking a stake in Jaguar and will join its advisory board. The deal is the insurers first investment in a company focused on emerging-markets real estate.
“This affiliation with Jaguar Growth Partners will provide New York Life with a differentiated set of alternative investment opportunities,” John Kim, vice chairman of New York Life told the Journal.
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