US-based private credit firm Clearlake Capital has agreed to buy Natixis IM’s pan-European private credit arm MV Credit Partners.
London-based MV Credit has $5.1bn of assets under management and will bring Clearlake’s assets to over $90bn, the companies said in a statement.
The deal is expected to close later this year, subject to terms which were not disclosed.
Jose E. Feliciano, co-founder and managing partner at Clearlake said: “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.”
Behdad Eghbali, co-founder and managing partner at Clearlake, said: “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.”
The deal comes less than a month after asset manager Janus Henderson acquired a majority stake in Victory Park Capital Advisors, a $6bn private credit shop.
