California-based investor Clearlake Capital said on Tuesday it would buy pan-European private credit specialist MV Credit from asset manager Natixis Investment Managers, part of a wider push by investors into lending to companies as banks retrench.
The acquisition is expected to close in the fourth quarter of 2024, Clearlake said in a statement. Financial details of the transaction were not disclosed.
Clearlake, which also is a co-owner of Chelsea football club, said the deal would add $5.1 billion of assets from MV Credit, taking its total to $90 billion, of which $28 billion will be in credit.
Clearlake said the acquisition of the London-based specialist would enable it to expand its private credit business further in Europe.
Source: Reuters.com