Private credit has been building as an alternative financing option for businesses with the offer of attractive returns for investors, and Clearlake Capital Group LP is headed for a bigger slice of the market.
The California headquartered investment firm has agreed to acquire a $5.1 billion AUM private credit specialist from Natixis Investment Managers.
The pan-European MV Credit provides tailored fund solutions to investors across senior direct lending, subordinated direct lending, hybrid, and collateralized loan obligation strategies, and has deployed more than $11 billion since its inception in London in 2000.
For Clearlake, the acquisition will boost its credit business to more than $28 billion AUM (it was around $6 billion in 2020) and its firmwide AUM to more than $90 billion. It will also expand the firm’s team to more than 230 professionals across offices in Santa Monica, Dallas, Dublin, London, Singapore, Abu Dhabi, Paris and Luxembourg.
José E. Feliciano, co-founder and managing partner at Clearlake, commented that credit is core to his firm’s strategy and has been in its DNA since it was founded in 2006.
“MV Credit’s exceptional track record and deep expertise in private credit align perfectly with our existing credit business and strengthen our continuing presence in Europe,” he said. “Clearlake has deployed over $40 billion in debt and preferred equity investments since 2006, and with MV Credit’s expertise we will broaden our global direct lending capabilities to better serve sponsors and other clients while expanding product offerings for our investors.”
Behdad Eghbali, Clearlake’s co-founder and managing partner added that the acquisition will add significant scale to the firm’s credit business.
“We have been very deliberate in how we’ve built our credit business, and the addition of MV Credit, with highly complementary direct lending capabilities, provides us with new opportunities for strategic growth,” he said.
The European Union is pushing to bring more transparency to the booming private credit market as regulators worry its rapid growth could threaten the financial system.
The Nashville-based RIA platform unveils a branded digital workflow solution designed to fix the onboarding gap that frustrates financial advisors.
Despite relying heavily on Social Security for retirement income, many older Americans doubt the program will deliver full benefits in the future.
BlackRock data shows workers without a financial cushion are far more likely to raid their 401(k) — and less likely to ever start contributing.
With just a small fraction of eligible kids enrolled ahead of the July 4 launch, experts warn lower-income families could be falling behind.
When even perfect portfolios come under pressure from fear or greed, a disciplined and balanced framework can make for better investing decisions.
Dan Biagini of American Equity says the steady decline of pensions, longer lifespans and a reset in interest rates are rewriting how advisors build retirement income
Direct indexing is on pace to outgrow ETFs and mutual funds. Northern Trust's Ken Lassner explains why the advisors who get it wish they had started sooner.
