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Hayfin Capital Administration has agreed the phrases of a administration buyout with non-public 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 staff turning into the bulk house owners of the widespread fairness.
“That is an thrilling new chapter that may assist Hayfin’s ongoing progress whereas preserving our core id and operational autonomy,” stated Tim Flynn, co-founder and chief govt at Hayfin.
Learn extra: Arctos Companions mulls Hayfin buyout
“Arctos has a best-in-class, like-minded staff that acknowledges the big alternative obtainable to buyers within the credit score markets at the moment, and their expertise solely enhances our capacity to serve our buyers, debtors, and sponsors.
“Our long-standing staff is grateful to BCI for the final seven years of profitable collaboration, and we look ahead to 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 underneath 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 wonderful final result for BCI’s pension plan and insurance coverage shoppers,” stated Jim Pittman, govt vice chairman and international head of personal fairness at BCI.
“We’re extraordinarily happy with the partnership we cast with the Hayfin staff over the previous seven years, which has delivered important progress in a crucial interval for the non-public 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 staff” and confirmed observe document.
“Their strategic progress ambitions make them a great associate for Arctos Keystone and gives our buyers entry to Europe’s main non-public credit score platform as that market continues to see fast progress,” Charles added.
“We look ahead to supporting Hayfin’s long-tenured funding staff in delivering our shared goal of producing enticing risk-adjusted returns for our respective buyers.”
Learn extra: Non-public credit score “golden age” to proceed
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