Hayfin Capital Administration has agreed the phrases of a administration buyout with personal funding agency Arctos Companions.
The settlement will see Arctos purchase the bulk stake owned by British Columbia Funding Administration Company (BCI) for an undisclosed determine. Beneath the phrases of the deal, Arctos will facilitate the Hayfin workforce changing into the bulk homeowners of the frequent fairness.
“That is an thrilling new chapter that can assist Hayfin’s ongoing progress whereas preserving our core identification and operational autonomy,” stated Tim Flynn, co-founder and chief government at Hayfin.
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“Arctos has a best-in-class, like-minded workforce that acknowledges the big alternative accessible to buyers within the credit score markets right this moment, and their expertise solely enhances our skill to serve our buyers, debtors, and sponsors.
“Our long-standing workforce is grateful to BCI for the final seven years of profitable collaboration, and we stay up for a continued relationship with them as an investor in our merchandise.”
BCI will stay a strategic restricted associate in sure Hayfin funds post-closing.
No adjustments are anticipated in Hayfin’s technique, funding course of, management, or day-to-day operations.
Hayfin was based in 2009 and makes a speciality of offering European and North American credit score and personal fairness funding options to a world investor base.
In January 2017, BCI acquired a majority stake within the agency. Since then, Hayfin’s property beneath administration have grown to roughly €31bn (£26.12bn).
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“We’re delighted to have reached this settlement with Hayfin and Arctos, delivering a superb final result for BCI’s pension plan and insurance coverage shoppers,” stated Jim Pittman, government vp and international head of personal fairness at BCI.
“We’re extraordinarily pleased with the partnership we solid with the Hayfin workforce over the previous seven years, which has delivered vital progress in a vital interval for the personal credit score market.
“We stay assured in Hayfin’s funding methods and are happy to stay as a restricted associate in sure funds.”
Ian Charles, co-founder and managing associate at Arctos, praised Hayfin’s “glorious management workforce” and confirmed observe report.
“Their strategic progress ambitions make them a great associate for Arctos Keystone and supplies our buyers entry to Europe’s main personal credit score platform as that market continues to see fast progress,” Charles added.
“We stay up for supporting Hayfin’s long-tenured funding workforce in delivering our shared goal of producing engaging risk-adjusted returns for our respective buyers.”
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