INVESTCORP TO AQUIRE MARBLE POINT CREDIT
02.12.2022 | 08:01
Investcorp AUM to reach $50 billion
Combination will create top 15 global CLO manager
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.