US-based private equity firm Clearlake Capital is to buy the European private credit specialist MV Credit from Paris-based asset manager Natixis Investment Managers for an undisclosed sum.
The deal is expected to close in the fourth quarter of this year, said Clearlake in a press release.
Clearlake, which co-owns Chelsea football club, said the acquisition would add $5.1 billion of assets from London-based MV Credit, taking its total to $90 billion, of which $28 billion will be in credit.
Clearlake added that the deal would enable it to expand its European private credit.
