Guardian Life Insurance Co. of America on Wednesday said that it has acquired a nearly 50 percent stake in the investment management arm of West Los Angeles developer Lowe Enterprises Inc.

The New York insurer paid an undisclosed sum for the stake in Lowe Enterprises Investors, which manages $6 billion in client funds invested in commercial, hospital and residential properties. Guardian also pledged $200 million of its own fund to invest in the portfolio.

“We view this as an opportune time to invest in real estate with a partner that has a strong, long term record of performance in identifying compelling investment opportunities that will provide attractive returns for our policyholders,” said Tom Sorell, Guardian executive vice president and chief investment officer, in a statement.

Lowe Enterprises has been in the real estate investment, development and management business for more than 38 years, and has operations in Denver, Irvine, San Francisco, Sacramento and Washington, D.C. The investment arm is managed by co-chief executives Brad Howe and Bleecker Seaman.

“This partnership positions us to take advantage of the recovery of the real estate market and will allow us to better serve our clients by improving our capital resources,” said Howe in a statement. “Guardian is a highly regarded firm with significant real estate expertise.”