NEW YORK & DENVER--(BUSINESS WIRE)--October 01, 2026-- 
 
   New York Life Investment Management (NYLIM), a global asset management 
firm with approximately $838 billion in assets under management (AUM)*, 
and its private markets affiliate, Apogem Capital LLC, today announced 
NYLIM's acquisition of its remaining ownership in Bow River Advisers, 
LLC, a subsidiary of Bow River Capital and investment adviser of the Bow 
River Capital Evergreen Fund. 
 
 
   Building on NYLIM's 2023 initial acquisition of an interest in Bow River 
Advisers, this transaction brings the Evergreen team into Apogem's 
private markets platform. This combines an established evergreen private 
equity solution with Apogem's extensive lower-middle-market investment 
capabilities and NYLIM's distribution and resources. 
 
 
   As part of the transaction, the Bow River Capital Evergreen Fund will be 
renamed the Apogem Evergreen Fund. The fund provides access to a broad 
range of private equity investments across sector, sponsor, geography 
and size. Since its launch in 2020, the fund has completed more than 150 
investments and raised more than $1.3 billion in assets from a wide 
range of investors, particularly those interested in diversifying their 
traditional stock and bond portfolios. Its existing team, strategy and 
investment committee will remain in place, preserving the investment 
philosophy and governance that have guided the fund since its inception. 
 
 
   The transaction expands NYLIM's $304 billion private markets platform 
and follows the firm's continued investment in specialized private 
markets capabilities globally, including its increased majority 
ownership stake in European private credit manager Kartesia earlier this 
year. 
 
 
   Naïm Abou-Jaoudé, CEO of NYLIM, said, "Our partnership with 
Bow River Advisers reflects NYLIM's long-term approach to expanding our 
private markets platform: partnering with high-quality investment teams, 
preserving the expertise and entrepreneurial culture that make them 
successful, and providing the resources to help them grow. Together with 
our broader private markets capabilities across the U.S. and Europe, 
this partnership strengthens our ability to deliver differentiated 
solutions and long-term value for clients globally." 
 
 
   "We're pleased to take the next step in our partnership with the Bow 
River Advisers team," said Josh Niedner, CEO of Apogem Capital. 
"Bringing the Bow River Advisers team into Apogem creates opportunities 
to leverage our sourcing, investment relationships and broader private 
markets capabilities while preserving the Evergreen team's established 
investment approach." 
 
 
   Jeremy Held, President of the Bow River Capital Evergreen Fund, said, 
"We couldn't be happier to be expanding our relationship with NYLIM and 
Apogem, whose consistent focus and experience in the lower middle market 
is a great complement to our middle-market-focused Evergreen strategy. 
Bringing our organizations closer together gives our team access to 
additional scale and resources while maintaining the approach that has 
defined the fund from the beginning." 
 
 
   Jane Ingalls, President and COO of Bow River Capital, said, "NYLIM has 
been, and will continue to be, a valued partner to our firm. As we move 
forward, Bow River will remain focused on offering investors 
differentiated, lower middle market strategies across private credit, 
private equity, real estate and venture capital in both closed-end and 
evergreen structures." 
 
 
   Bow River Capital will retain a meaningful economic interest in the 
success of the Evergreen business for several years after the closing. 
The remainder of Bow River Capital's business, which focuses on 
investments in the lower middle market across private credit, private 
equity, real estate and venture capital, is unchanged as part of the 
transaction. 
 
 
   Before investing, investors should carefully consider the investment 
objectives, risks, charges, and expenses of the investment company. This 
and other important information are contained in the prospectus and, if 
available, the summary prospectus, which may be obtained by visiting 
https://dfinview.com/NYLIM or by contacting your financial professional. 
Investors should read the prospectus and, if available, the summary 
prospectus carefully before investing. 
 
 
   Securities distributed by NYLIFE Distributors LLC, 30 Hudson Street, 
Jersey City, NJ 07302, Member FINRA/SIPC. 
 
 
   About New York Life Investment Management 
 
 
   With approximately $837.6 billion* in assets under management as of June 
30, 2026, New York Life Investment Management is a Pensions & 
Investments' Top 30 Largest Money Manager** and one of the largest 
active asset managers globally with established capabilities across both 
public and private markets. Comprised of the affiliated global asset 
management businesses of New York Life Insurance Company, New York Life 
Investment Management is committed to achieving enduring financial 
outcomes and building long-term partnerships across market cycles and 
generations. Our specialized, independent investment teams bring 
disciplined active management and deep expertise to help clients 
navigate the next era of investing. 
 
 
   "New York Life Investment Management" is both a service mark and the 
common trade name of the following investment advisors affiliated with 
New York Life Insurance Company: Andera Partners, Apogem Capital LLC, 
Ausbil Investment Management Limited, Bow River Advisers, LLC, Candriam 
S.C.A., Kartesia Management S.Ã  r.l., MacKay Shields LLC, New York 
Life Investment Management LLC, NYL Investors LLC, and Tristan Capital 
Partners LLP. 
 
 
   *Assets under management (AUM) includes assets of the investment 
advisers that make up "New York Life Investment Management" as of 
6/30/2026. AUM includes certain assets, such as nondiscretionary AUM, 
external fund selection, and overlay services, including ESG screening 
services, advisory consulting services, white labeling services, and 
model portfolio delivery services, that are not necessarily considered 
Regulatory Assets Under Management according to the SEC's Form ADV. AUM 
is reported in USD. AUM not denominated in USD is converted at the spot 
rate as of 6/30/2026. 
 
 
   The total AUM figure for "New York Life Investment Management," as a 
brand, is less than the sum of the AUM of each affiliated investment 
adviser in the group because it does not count AUM where the same assets 
can be counted by more than one affiliated investment adviser. In 
addition, AUM includes assets of certain, but not all, investment 
advisers affiliated with New York Life Insurance Company and excludes 
assets managed by Andera Partners and Bow River Advisers, LLC. AUM is 
based on estimates and is subject to change. 
 
 
   **New York Life Investment Management ranked 26th largest institutional 
investment manager in Pensions & Investments' Largest Money Managers 
2026 published June 2026, based on worldwide institutional AUM as of 
Dec. 31, 2025. No direct or indirect compensation was paid for the 
creation and distribution of this ranking. 
 
 
   About Apogem Capital 
 
 
   Apogem Capital is a leading private markets investor with 35 years of 
expertise across private credit and private equity in North America. As 
of June 30, 2026, the firm manages approximately $44 billion in 
assets.(1) Apogem provides a comprehensive suite of solutions, including 
direct lending, private equity funds and co-investments, GP-led 
transactions and LP secondaries, GP stakes, and private real assets. 
 
 
   With a team of over 250 professionals, including more than 120 
investment professionals, Apogem combines deep domain expertise with the 
stability and long-term perspective of its parent company, New York Life 
Insurance Company. Apogem Capital is a wholly owned subsidiary of New 
York Life through New York Life Investment Management Holdings, LLC. 
 
 
   For more information, visit apogemcapital.com. 
 
 
   (1.) AUM is estimated and unaudited and includes non-discretionary and 
co-advised assets. 
 
 
   About Bow River Advisers 
 
 
   Bow River Advisers is a subsidiary of Bow River Capital, an alternative 
asset manager based in Denver, Colorado, focused on investment in the 
lower middle market across private credit, private equity, real estate 
and venture capital. Collectively, the Bow River Capital team has 
deployed capital into diverse industries, asset classes, and across the 
capital structure. 
 
 
 

View source version on businesswire.com: https://www.businesswire.com/news/home/20261001923922/en/

 
 
    CONTACT:    Media Contact 
 
   Gabby DiCarlo 
 
   New York Life Investment Management 
 
   1-332-225-7079 
 
 
   gabrielle_a_dicarlo@newyorklife.com