Levine Leichtman Capital Partners (LLCP) is weighing a sale of its stake in Global Loan Agency Services (GLAS), the London-headquartered debt administration specialist, in a move that could value the company at around £1bn ($1.3bn), according to a report by Reuters.
The report cites unnamed people familiar with the matter as revealing that the US private equity firm has engaged advisers at Baird and Deutsche Bank to assess buyer interest, though discussions remain at an early stage and a deal is not guaranteed.
GLAS, founded in 2011, has grown into a key independent provider of administration services across private credit, leveraged finance, capital markets and restructuring. The firm oversees more than $600bn of assets under administration daily and is expected to generate EBITDA north of £50m this year.
Levine Leichtman took a strategic stake in GLAS in 2022 and has since supported its international expansion, including acquisitions in Singapore of Watiga (2024) and Serica Trust & Agency (2025). A potential exit would follow a wave of consolidation in the fund administration sector, which has attracted significant private equity investment due to its recurring revenues and scalability.
Recent sector activity includes Cinven’s majority acquisition of Alter Domus from Permira in a €4.9bn deal, Astorg’s exploration of options for IQ-EQ, and Permira’s interest in London-listed JTC, which rejected two approaches last week.
