Global alternative investment firm Investcorp is to acquire Marble Point Credit Management, a US-based CLO manager. While specific terms of the transaction have not been disclosed, the purchase price is thought to be in the region of $200 million.
Global alternative investment firm Investcorp is to acquire Marble Point Credit Management (Marble Point), a US-based CLO manager. While specific terms of the transaction have not been disclosed, the purchase price is thought to be in the region of $200 million.
With $7.8 billion of assets under management, Marble Point focuses exclusively on managing CLOs and portfolios of broadly syndicated leveraged loans. The firm is led by Thomas Shandell, a 38-year credit markets veteran, and Corey Geis, who has 27 years of experience. Marble Point is an affiliate of Eagle Point Credit Management LLC.
Following closing of the transaction, Marble Point will be combined with Investcorp Credit Management, a global credit platform with $14.2 billion in assets under management and an 18-year history of investing across credit markets worldwide. The combined platform will manage $22 billion in assets and rank among the top 15 CLO managers globally by AUM.
The transaction, which is expected to close in the first quarter of 2023, is subject to customary regulatory requirements and closing conditions.
