Clearlake Capital acquires MV Credit from Natixis IM
4 SEPT, 2024
By Jose Luis Palmer from RankiaPro Europe
Clearlake Capital Group, an investment firm founded in 2006 that operates integrated businesses in private equity, credit, and other related strategies, has announced that it has agreed to acquire MV Credit, a pan-European private credit specialist owned by Natixis IM. The acquisition is expected to be completed in the fourth quarter of 2024, subject to customary closing conditions.
Who is MV Credit?
Founded in 2000 and based in London, MV Credit is an independent European private credit specialist. With $5.1 billion in assets under management (AUM), MV Credit offers custom fund solutions to investors in senior direct lending strategies, subordinated direct loans, hybrids, and collateralized loan obligations (CLO). MV Credit has deployed over $11 billion since its inception, leading more than 500 custom transactions of up to $500 million with sponsors such as EQT, Nordic Capital, Cinven, and Bain Capital. MV Credit stands out for its experienced senior management team, each of whose members has over two decades of investment experience across multiple credit cycles.
Upon closing, Clearlake's credit business will have over $28 billion in assets under management, as well as assets under management across the company of over $90 billion. After the acquisition closes, the Clearlake team will consist of more than 230 professionals with offices in Santa Monica, Dallas, Dublin, London, Singapore, Abu Dhabi, Paris, and Luxembourg.
Kirkland & Ellis and Milbank are acting as legal advisors to Clearlake, while Fenchurch Advisory is acting as financial advisor and Dentons is acting as legal advisor to Natixis IM in the transaction. DLA Piper is serving as legal advisor to MV Credit Partners.
Credit has been in Clearlake's DNA since our inception and is fundamental to our company's strategy. MV Credit's exceptional track record and deep experience in private credit align perfectly with our existing credit business and strengthen our ongoing presence in Europe. Clearlake has deployed over $40 billion in debt and preferred equity investments since 2006, and with MV Credit's expertise, we will expand our global direct lending capabilities to better serve sponsors and other clients, while also expanding the product offering for our investors.
Jose E. Feliciano, co-founder and managing partner of Clearlake
With this acquisition, Clearlake's credit business will reach significant scale, with a growth of credit assets under management from approximately $6 billion in 2020 to over $28 billion today. We have been very deliberate in the way we have built our credit business, and the addition of MV Credit, with highly complementary direct lending capabilities, provides us with new opportunities for strategic growth.
Behdad Eghbali, co-founder and managing partner of Clearlake
Clearlake and MV Credit share a similar credit investment philosophy and culture, and we believe that the combination will be a winning proposition for the market. The demand for private credit continues to grow, and the partnership with Clearlake allows us to address even more customer needs worldwide. Our firms share a culture of teamwork, integrity, and commitment to excellence. We look forward to being part of the Clearlake family.
Frédéric Nadal, CEO of MV Credit
