New York Life Investment Management has added QED Investments LLC to its roster. The Parsippany, N.J.-based firm picks up $650 million in assets under management as well as a managed account product line.

"QED brings to NYLIM a proven approach to quantitative asset management and an established wrap account business," said Gary Wendlandt, CEO of NYLIM, in a statement. NYLIM does not offer its own retail separate account product.

Subscribe Now

Access to premium content including in-depth coverage of mutual funds, hedge funds, 401(K)s, 529 plans, and more.

3-Week Free Trial

Insight and analysis into the management, marketing, operations and technology of the asset management industry.