New York Life Acquires Minority Ownership Stake in Fairview Capital Partners: A Strategic Move for Growth and Innovation

Fairview Capital Partners, one of the nation’s largest Black-owned firms in the private equity and venture capital investing space, has recently sold a minority ownership stake to mutual life insurance giant New York Life. This strategic move is expected to help Fairview Capital spur growth by partnering with venture capital firms, as well as diverse and emerging fund managers.

With over $10 billion in assets under management, Fairview Capital has been a key player in the industry for the past 30 years, investing on behalf of institutional investors such as pension plans, foundations, and endowments. The partnership with New York Life signifies a significant milestone for Fairview Capital, as it looks to expand its business in the venture capital, diverse and emerging managers, and co-investment categories.

Co-Founder Larry Morse expressed excitement about the partnership, stating that New York Life’s capital and partnership will create more opportunities for Fairview Capital to accelerate its growth and expand its investing with industry-leading venture capital firms. Co-Founder JoAnn Price also emphasized the firm’s commitment to transforming business and culture in the venture capital and private equity industry.

The collaboration between Fairview Capital and New York Life aligns with New York Life’s mission to build and sustain meaningful economic outcomes over the long term while generating positive investment returns for clients. This investment further solidifies Fairview Capital’s leadership and longevity in the market, with the firm’s co-founders and managing partners remaining in control as majority owners.

In addition to the financial partnership, New York Life has committed $200 million to Fairview Capital as part of its $1 billion impact investment initiative aimed at bridging the racial wealth gap by investing in underserved communities. This initiative has already made a significant impact on diverse and emerging fund managers, supporting dozens of businesses and impacting hundreds overall.

Overall, the partnership between Fairview Capital and New York Life represents a significant step forward for both firms in their mission to drive growth, innovation, and positive impact in the private equity and venture capital space.