UK private equity firm Oakley Capital has agreed to acquire a majority stake in Global Loan Agency Services (GLAS), alongside a minority investment from Canadian pension fund La Caisse, according to a report by Reuters. Financial terms were not disclosed.
Oakley Capital Investments, the listed vehicle managed by Oakley, said its indirect contribution to the transaction is expected to be up to £55m, forming part of Oakley’s overall investment. A sale of GLAS could reportedly value the business at around £1bn.
The London-headquartered firm provides administration services across private credit, leveraged finance, capital markets, and bankruptcy. Founded in 2011, it has more than $700bn of assets under administration.
Separately Levine Leichtman Capital Partners, which acquired its stake in 2022, has exited its reportedly majority holding in GLAS but will retain a small shareholding. Mia Drennan, founder and chief executive, will continue to lead GLAS alongside the existing management team.
