Third Point to acquire AS Birch Grove from American Securities.

Third Point, an alternative investment firm, agreed to acquire AS Birch Grove, a diversified alternative credit fund manager, from American Securities, a private equity firm. Financial terms were undisclosed. “Birch Grove’s businesses further diversify our credit platform. Their well-established CLO franchise has strong momentum, and their capital solutions business complements our new private credit strategy. As each firms’ investors seek alternative-credit opportunities for their portfolios, I am confident that this combination will offer compelling solutions," Daniel S. Loeb, Third Point CEO.