Private equity firm Clearlake Capital, the co-owner of Chelsea Football Club, has finalised a deal to acquire a credit investment unit from Natixis, marking its entry into the booming $1.7tn private credit sector, according to a report by the Financial Times.
The acquisition of European-focused MV Credit, which is valued at several hundred million dollars, which will add approximately $5bn to Clearlake’s credit portfolio, and boosts the firm’s total assets under management to over $90bn.
The purchase of MV Credit also strengthens Clearlake’s public credit investment capabilities by integrating MV’s collateralised loan obligation (CLO) business. Clearlake has been aggressively expanding its credit offerings, particularly since the 2020 acquisition of CLO manager WhiteStar Asset Management.
The deal is being financed through Clearlake’s available cash and its revolving credit facility. The firm had previously raised funds by selling a stake in its business to Dyal Capital (part of Blue Owl) and Goldman Sachs’ Petershill Partners.
The acquisition is part of a broader trend of consolidation in the asset management industry, with private equity firms increasingly moving into credit and infrastructure to build stable, fee-generating businesses. Recent notable transactions include TPG’s purchase of Angelo Gordon, Blue Owl’s acquisition of Atalaya Capital Management, and Brookfield’s $1.5bn investment in Castlelake, an aviation-focused lender
