Clearlake Buys $5B Credit Unit from Natixis
Clearlake Capital Group, L.P. has agreed to acquire MV Credit, a pan-European private credit specialist, from Natixis Investment Managers. Financial terms of the deal, which is expected to close in the fourth quarter of 2024, were not made available.
MV Credit manages $5.1 billion in assets under management across senior direct lending, subordinated direct lending, hybrid, and collateralized loan obligation (CLO) strategies.
The acquisition of the London-based firm will add around $5 billion to Clearlake’s credit portfolio, bringing the firm’s total assets under management to more than $90 billion. The firm’s primary target markets include industrials, technology, and consumers.
“Clearlake has deployed over $40 billion in debt and preferred equity investments since 2006, and with MV Credit’s expertise we will broaden our global direct lending capabilities to better serve sponsors and other clients while expanding product offerings for our investors,” said José E. Feliciano, co-founder and managing partner at Clearlake.
The London-based firm has deployed more than $11 billion since its inception in 2000, leading over 500 bespoke transactions of up to $500 million with sponsors such as EQT, Nordic Capital, Cinven and Bain Capital.
Upon closing, Santa Monica, CA-based Clearlake’s team will consist of over 230 professionals with offices in Santa Monica, Dallas, Dublin, London, Singapore, Abu Dhabi, Paris and Luxembourg.
The transaction is part of a larger trend of consolidation in the asset management industry, as private equity firms expand into credit and infrastructure. TPG’s acquisition of Angelo Gordon, Blue Owl’s acquisition of Atalaya Capital Management, and Brookfield’s $1.5 billion investment in Castlelake, an aviation-focused lender, are among the most recent significant deals.
