Clearlake Capital Expands Global Private Credit with MV Credit Acquisition
Clearlake Capital's Strategic Acquisition of MV Credit
MV Credit will Significantly Enhance Clearlake's Capabilities in Direct Lending and Private Credit to Sponsors and Other Clients
The MV Credit Acquisition will Bring Clearlake's AUM to Over $90 Billion and Clearlake Credit AUM to Over $28 Billion
Clearlake Capital Group, L.P. ("Clearlake") has officially announced its agreement to acquire MV Credit, a prominent name in European private credit, from Natixis Investment Managers. This acquisition is set to enhance Clearlake’s operations in the private credit sector, particularly in direct lending to its valued clients. The deal is anticipated to finalize before the end of the calendar year, subject to standard regulatory approvals.
MV Credit: A Leader in Private Credit Solutions
Established in 2000 in London, MV Credit is recognized as a pioneering European private credit firm. It manages about $5.1 billion in assets and offers specialized financing solutions across various strategies, such as senior direct lending and CLOs. Over the years, it has executed more than $11 billion in transactions, partnering with renowned sponsors like EQT and Bain Capital.
MV Credit's Expertise and Performance
MV Credit's dedicated team, with an average of over two decades of investment experience, equips the firm with substantial expertise in navigating multiple credit cycles. This capability to deliver intricate financing solutions positions MV Credit as a vital player in the European credit landscape.
The Impact on Clearlake’s Operations
Upon completion of the acquisition, Clearlake’s credit division is expected to augment its AUM significantly, reaching over $28 billion. This expansion not only solidifies Clearlake’s presence in the private credit market but also enhances its ability to serve sponsors and clients globally through an expanded suite of offerings.
Future Growth and Strategy
José E. Feliciano, Co-Founder and Managing Partner at Clearlake, remarked on the strategic fit of MV Credit’s capabilities with Clearlake's existing services. He emphasized that since 2006, Clearlake has injected over $40 billion into various debt and equity options and looks forward to leveraging MV Credit’s strengths for more extensive global reach.
A Distinct Investment Philosophy
The alignment of investment philosophies between Clearlake and MV Credit is seen as a pivotal factor in this acquisition. Both firms value teamwork and a rigorous approach to investment, which will propel them toward mutual growth and success.
Market Trends and Demand for Private Credit
With increasing demand for private credit, Clearlake is positioned nicely to cater to these market needs. The acquisition opens doors to new partnerships and enhances the firm's capacity to meet the evolving needs of its clients worldwide.
Advisory Team for the Acquisition
Clearlake Capital engaged Kirkland & Ellis LLP and Milbank LLP for legal advisement, while Fenchurch Advisory is conducting financial advisory roles. On the other side, Natixis IM has enlisted Dentons for legal support regarding the acquisition.
About Clearlake Capital Group
Clearlake Capital Group, founded in 2006, specializes in diverse investment strategies across private equity and credit. The firm actively pursues partnerships with innovative management teams, providing long-term capital aimed at operational improvement. Clearlake currently manages over $85 billion in assets spread across various sectors including technology and consumer.
Headquarters and Team Structure
The firm is headquartered in Santa Monica and employs a talented workforce of more than 230 professionals situated in major financial hubs worldwide, reflecting Clearlake's commitment to global presence and operational excellence.
About MV Credit
MV Credit has an unrivaled legacy in the European private credit domain, being one of the earliest firms established in the region. The firm has cultivated long-lasting relationships with key sponsors, leveraging its extensive experience to make tailored investments in senior and subordinated debt. MV Credit aims to focus on stable and less cyclical industries, driving value through strategic engagement.
Commitment to Clients
The partnership with Clearlake underscores MV Credit’s ambition to enhance its service offerings, responding to the growing appetite for private credit solutions across various markets.
Frequently Asked Questions
What is the significance of Clearlake acquiring MV Credit?
The acquisition enhances Clearlake's capabilities in direct lending, significantly increasing its assets under management in the private credit sector.
How does MV Credit enhance Clearlake's expertise?
MV Credit brings extensive experience and a strong track record in private credit, providing tailored financing solutions and enhancing the firm’s product offerings.
What will be the AUM of Clearlake after the acquisition?
Clearlake's assets under management (AUM) are expected to exceed $90 billion, with its credit AUM rising to over $28 billion.
Who are the legal advisors involved in the transaction?
Kirkland & Ellis LLP and Milbank LLP are serving as legal advisors to Clearlake, while Dentons is advising Natixis IM.
What is Clearlake's investment strategy?
Clearlake focuses on long-term capital investments in sectors such as technology and consumer, aiming for operational improvements through strategic partnerships.
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