Investcorp AUM to reach $50
billion
Combination will create top 15 global CLO manager
NEW YORK, Dec. 2, 2022 /PRNewswire/ -- Investcorp, a
leading global alternative investment firm, today announced it has
agreed to acquire Marble Point Credit Management LLC (Marble
Point), a leading US-based CLO manager. Specific terms of the
transaction were not disclosed.
"The proposed acquisition of Marble Point is a significant
milestone in Investcorp's 40-year journey of growth through
diversification, geographic expansion and building scale. With
$50 billion in total firm assets
under management after completion of this acquisition, Investcorp
is well-poised for the next phase of its evolution and
development," said Mohammed Alardhi, Executive Chairman of
Investcorp.
With $7.8 billion of assets under
management, Marble Point is a specialist asset manager focused
exclusively on managing CLOs and portfolios of broadly syndicated
leveraged loans. Marble Point is led by Thomas Shandell, a 38-year veteran of the credit
markets, and Corey Geis, with 27
years of experience. Marble Point is an affiliate of Eagle Point
Credit Management LLC.
"We are excited to be joining Investcorp," said Tom Shandell, who will lead the combined US CLO
and broadly syndicated loans business for Investcorp. "Investcorp's
credit business has been one of the primary engines in its
impressive global expansion and provides an ideal platform to
realize the next exciting phase of our continued growth and
advancement as a leading credit manager."
"Our combined platforms represent a formidable player in the
credit markets, significantly enhancing our profile in the eyes of
capital markets participants," added Corey
Geis, who will serve as Director of Capital Markets, Head
Trader and Portfolio Manager at Investcorp.
Thomas Majewski, Founder and
Managing Partner of Eagle Point added, "Over the past seven years,
Tom and Corey have built Marble Point into a very strong platform.
It has been an absolute pleasure working with them and I believe
their new combined platform is well positioned for the future."
Upon closing of the transaction, Marble Point will be combined
with Investcorp Credit Management, a global credit platform with
$14.2 billion in assets under
management and an 18-year history of investing across credit
markets worldwide. The combined platform will manage $22 billion in assets and rank among the top 15
CLO managers globally by AUM.
Rishi Kapoor, Co-Chief Executive
Officer of Investcorp with oversight of its credit businesses said,
"This is an exciting moment for us and we are looking forward to
having Tom, Corey and the entire Marble Point team join us at
Investcorp. This strategic acquisition reaffirms our commitment to
continue to grow and expand Investcorp's credit management platform
and be a leading global provider of an array of credit-focused
products and solutions to our clients."
Jeremy Ghose, Global Head of
Investcorp Credit Management, added, "This acquisition will result
in a $22 billion total AUM credit
management business with meaningful scale across both US and
Europe, and we look forward to
further growing the business."
The transaction, which is expected to close in the first quarter
of 2023, is subject to customary regulatory requirements and
closing conditions.
About Investcorp
Investcorp is a global investment
manager, specializing in alternative investments across private
equity, real estate, credit, absolute return strategies, GP stakes,
infrastructure, and insurance asset management. Since our inception
in 1982, we have focused on generating attractive returns for our
clients while creating long-term value in our investee companies
and for our shareholders as a prudent and responsible investor.
Investcorp has today 13 offices across the US, Europe, GCC and Asia, including India, China
and Singapore. Currently,
Investcorp Group has over $42.7
billion in total AUM, including assets managed by third
party managers, and employs approximately 480 people from 50
nationalities globally across its offices.
For further information, visit
http://www.investcorp.com/ and follow us @Investcorp on
LinkedIn, Twitter and Instagram.
About Marble Point Credit Management LLC
With
$7.8 billion of AUM, Marble Point is
a specialist asset manager focused exclusively on loans. Marble
Point is led by Thomas Shandell (CEO
and CIO), a 38-year veteran of the credit markets, and Corey Geis (Director of Capital Markets and Head
Trader), with 27 years of experience. Marble Point is the external
manager of Marble Point Loan Financing Limited (LSE: MPLF). Marble
Point is an affiliate of Eagle Point Credit Management LLC.
About Eagle Point Credit Management LLC
Eagle Point
Credit Management is a specialist investment manager focused on
investing in CLO Securities, Portfolio Debt Securities and other
credit investments. Based in Greenwich,
Connecticut, as of September
2022, Eagle Point manages over $7.3
billion of assets for institutional and retail clients
globally. For further information, visit
http://www.eaglepointcredit.com/ and follow us on
LinkedIn.
Media Contacts
Investcorp
Katherine Segura, Nada Abdulghani
+1 929-528-5248 (US), +973 17515467 (Bahrain)
corpcomms@Investcorp.com
Marble Point and Eagle Point
Brian Ruby
+1 203-682-8268
brian.ruby@icrinc.com
Photo
- https://mma.prnewswire.com/media/1960390/Exec_Chairman_Alardhi_Investcorp.jpg
View original
content:https://www.prnewswire.co.uk/news-releases/investcorp-to-aquire-marble-point-credit-301692190.html
