NEW YORK: Investcorp, a number one global alternative funding firm, has agreed to acquire Marble Point Credit Management LLC, a number one US-based CLO manager. Specific phrases of the transaction weren’t disclosed.
“The proposed acquisition of Marble Point Credit Management is a significant milestone in Investcorp’s 40-year journey of growth through diversification, geographic expansion and constructing scale. With $50 billion in total agency assets under administration after completion of this acquisition, Investcorp is well-poised for the subsequent 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 supervisor 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 score 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 becoming a member of Investcorp,” said Tom Shandell, who will lead the mixed US CLO and broadly syndicated loans enterprise for Investcorp.
“Investcorp’s credit score enterprise has been one of many primary engines in its spectacular global expansion and provides an ideal platform to realize the subsequent thrilling phase of our continued growth and development as a number one credit score manager.”
“Our mixed platforms represent a formidable participant within the credit score markets, considerably enhancing our profile within the eyes of capital markets participants,” added Corey Geis, who will function Director of Capital Markets, Head Trader and Portfolio Manager at Investcorp.
Thomas Majewski, Founder and Managing Partner of Eagle Point added, “Over the previous seven years, Tom and Corey have constructed Marble Point right into a really strong platform. It has been an absolute pleasure working with them and I believe their new mixed platform is well positioned for the future.”
Upon closing of the transaction, Marble Point will be mixed with Investcorp Credit Management, a global credit score platform with $14.2 billion in assets under administration and an 18-year historical previous of investing throughout credit score markets worldwide. The mixed platform will handle $22 billion in assets and rank amongst the many top 15 CLO managers globally by AUM.
Rishi Kapoor, Co-Chief Executive Officer of Investcorp with oversight of its credit score companies said, “This is an thrilling second for us and we’re looking ahead to having Tom, Corey and the entire Marble Point team join us at Investcorp. This strategic acquisition reaffirms our dedication to proceed to develop and expand Investcorp’s credit score administration platform and be a number one global supplier of an array of credit-focused merchandise and options to our clients.”
Jeremy Ghose, Global Head of Investcorp Credit Management, added, “This acquisition will result in a $22 billion total AUM credit score administration enterprise with significant scale throughout each US and Europe, and we glance ahead to additional rising the business.”
The transaction, which is anticipated to shut within the primary quarter of 2023, is topic to customary regulatory necessities and shutting conditions.
Investcorp is a global funding manager, specializing in alternative investments throughout private equity, actual estate, credit, absolute return strategies, GP stakes, infrastructure, and insurance coverage asset management. Currently, Investcorp Group has over $42.7 billion in total AUM, together with assets managed by third party managers, and employs roughly 480 people from 50 nationalities globally throughout its offices.