Jaguar Growth Partners, a privately-held investment management and advisory firm run by former business partners of Sam Zell, has received $100 million in new financing from New York Life Insurance Company for its inaugural fund.
New York Life Insurance Company, a Fortune 100 company founded in 1845, is the largest mutual life insurance company in the United States* and one of the largest life insurers in the world.
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As part of the agreement, New York Life acquired an interest in Jaguar and will join the Firm’s Advisory Board.
Jaguar Growth Partners specializes in real estate private equity in growth markets globally. Founded in 2013 by Gary Garrabrant and Thomas McDonald, Jaguar invests in and develops scalable real estate-related operating platforms and companies poised to grow in markets characterized by an expanding middle class, aspirational youth, urbanization and other secular trends found in emerging global economies.
Jaguar declared the investment to be a strong endorsement of its leadership position in growth markets from one of the world’s largest and most respected insurance and investment companies.
“We are privileged to partner with the largest mutual life insurance company in the US and one of the world’s largest asset managers, and we look forward to benefitting from New York Life’s strong heritage of investment expertise and innovation, ” said Gary Garrabrant, Jaguar Founder and Managing Partner.
“The combination of our history, experience and relationships with New York Life’s institutional depth and breadth is a very powerful one, ” added Thomas McDonald, Jaguar Founder and Managing Partner.
John Kim, Vice Chairman and Chief Investment Officer of New York Life, added: “This affiliation with Jaguar Growth Partners will provide New York Life with a differentiated set of alternative investment opportunities, which we believe will add value for our policyholders and contribute to the financial strength of the company. In today’s challenging investment environment, we are pleased to have a partner with the knowledge and insight to help us benefit from investment in real estate growth markets.”
