IndexIQ CEO: MainStay Deal Win-Win, Investors Seeking Liquid Alts
The purchase of IndexIQ enables New York Life's MainStay Investments division the ability to simultaneously enter both the ETF space and the growing liquid alternatives arena.
The purchase of IndexIQ enables New York Life's MainStay Investments division the ability to simultaneously enter both the ETF space and the growing liquid alternatives arena, said Adam Patti, CEO of IndexIQ. Patti added that the deal offers IndexIQ, which has $1.5 billion across its funds compared to $101 billion for MainStay, additional distribution and more resources for new product innovation. He said liquid alternatives are in demand because they are a cheaper and more tax efficient alternative to hedge funds and traditionally individual investors have been unable to access these high-end strategies.
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