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As part of the acquisition, Chairman and Chief Executive of Investcorp Credit Management BDC and Co-Chief Investment Officer of CMIP Michael Mauer will become Co-Head of Investcorp Credit Management US along with Jim Feeley, who currently serves as Co-Head of Investcorp Credit Management US.
Sunday 08, September 2019 BY KUDAKWASHE MUZORIWA
Bahrain-based Investcorp, an alternative investment manager, has finalised its acquisition of a majority interest in CM Investment Partners (CMIP), which acts as the investment adviser to Investcorp Credit Management BDC.
Investcorp Credit Management BDC invests primarily in middle-market companies that have annual revenues of at least $50 million and EBITDA of at least $15m, focusing on companies with leading market positions, significant asset or franchise values as well as strong free cash flow and experienced senior management teams.
Jeremy Ghose, Managing Director and Head of Investcorp Credit Management, said, “This acquisition aligns with our broader strategy of providing a diverse and full platform across the alternative asset management spectrum and marks our entry into the BDC segment.”
Investcorp Credit Management is a leading global credit manager with assets under management of over $12 billion.
Additionally, with offices in London, New York and Singapore, the business manages funds that invest primarily in senior secured corporate debt issued by mid and large-cap firms in Western Europe and the US.