Investcorp to Buy CLO Manager Marble Point Credit Management

Investcorp, a global alternative asset manager, has agreed to buy US-based Marble Point Credit Management, a business focused on collateralized loan obligations (CLOs). Financial terms of the deal were not provided.

Marble Point focuses exclusively on CLOs, which is a single security backed by a pool of debt, and portfolios of broadly syndicated leveraged loans, with $7.8 billion in assets under management.

Mohammed Alardhi, Executive Chairman of Investcorp, said, “With $50 billion in total firm assets under management (currently $47.2bn) after completion of this acquisition, Investcorp is well poised for the next phase of its evolution and development.”

Upon closure of the deal, which is expected in the first quarter of 2023, Marble Point will be combined with Investcorp Credit Management, a global credit platform with $14.2 billion in assets under management.

The combined platform will manage $22 billion in assets and rank among the top 15 CLO managers globally by assets, according to the company.

Thomas Shandell, CEO and chief investment officer of Marble Point, will lead the combined US CLO and broadly syndicated loans business for Investcorp.

Pictured: Mohammed Alardhi, Executive Chairman of Investcorp