Various asset supervisor Stonepeak has accomplished its acquisition of personal credit score specialist Boundary Avenue Capital, simply two months after the deal was introduced.
In November 2024, Stonepeak agreed to purchase Boundary Avenue for an undisclosed quantity in an effort to increase its credit score, digital infrastructure and expertise funding capabilities.
On the time, Boundary Avenue had greater than $700m (£574.1m) in capital commitments, gives versatile capital to decrease mid-market expertise and telecommunications companies.
“We’re extremely excited to welcome the Boundary Avenue workforce to Stonepeak,” mentioned Jack Howell, co-president of Stonepeak.
Learn extra: Stonepeak to amass Boundary Avenue Capital to spice up credit score enterprise
“The workforce represents a robust cultural match for our agency, and their addition will allow us to convey a fair broader set of choices to our restricted companions and debtors throughout the infrastructure panorama.”
Rashad Kawmy, associate and co-founder of Boundary Avenue, mentioned that as a part of Stonepeak, Boundary Avenue is in a greater place to attain its aim of constructing the best expertise and digital infrastructure companies of tomorrow.
“We’re excited to begin capitalising on the various funding alternatives we’re seeing pushed by digitalisation and AI in methods we couldn’t have finished earlier than,” Kawmy added.
Learn extra: The highest personal credit score M&A offers of 2024
“With deep experience in digital infrastructure and expertise companies and intensive expertise within the decrease center market, Boundary Avenue enhances our current credit score investing capabilities properly,” added Michael Leitner, senior managing director at Stonepeak.
“I stay up for working alongside Rashad and the remainder of the workforce as we proceed to develop the Stonepeak Credit score platform.”
Paul, Weiss, Rifkind, Wharton & Garrison and Simpson Thacher & Bartlett LLP served as authorized counsel to Stonepeak. Hogan Lovells served as authorized counsel to Boundary Avenue.
Learn extra: Ramirez Asset Administration acquires Avenue Capital Group personal credit score workforce