Announced
Completed
Financials
Tags
United States
Asset Managers and Custodians
asset management company
Acquisition
Cross Border
Private
Majority
Single Bidder
Friendly
Private Equity
Completed
Synopsis
Man Group, an investment management business, completed the acquisition of a majority stake in Varagon Capital Partners, a middle market private credit manager, from Aflac, an insurance company, Corebridge Financial, a financial services company, and American International Group, an insurance organization, for $183m. "This acquisition reflects our long-term strategy to move into new market segments where we can differentiate ourselves with talented, specialised teams. Man Group has built a rich and diversified credit offering to date, and as client demand for credit strategies is increasing, we see a significant growth opportunity in direct lending, particularly against the backdrop of regional banking difficulties in the US. This transaction enhances our ability to provide deep, fundamental credit expertise through a cycle, underpinned by risk management of the highest quality," Eric Burl, Man Group Head of Discretionary.
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