Third Point completed the acquisition of AS Birch Grove from American Securities.

Third Point, an alternative investment firm, completed the acquisition of AS Birch Grove, a diversified alternative credit fund manager, from American Securities, a private equity firm. Financial terms were undisclosed. “The acquisition supplements Third Point’s existing capabilities in structured, corporate, distressed, and private credit to better serve its investors across all asset classes. The transaction brings Third Point’s assets under management to $21bn," Daniel S. Loeb, Third Point CEO.