BCI sells majority stake in Hayfin to Arctos Partners
British Columbia Investment Management Corporation (BCI) in Canada has agreed to sell its majority stake in Hayfin Capital Management, a UK-headquartered alternative asset management platform, to private investment firm Arctos Partners for an undisclosed sum.
BCI’s majority stake in Hayfin sold to Arctos
Hayfin says it entered into an agreement with Arctos Partners “to support a management buyout of the business” as the firm looks to deliver on its “long-term objectives of greater team ownership, alignment, and incentivisation”.
The firm says Arctos Keystone, a division of Arctos Partners that provides bespoke growth capital and liquidity solutions to financial sponsors, has “underwritten 100 percent of the funding and will facilitate the Hayfin team becoming the majority owners of the common equity”, adding that BCI “will remain a strategic limited partner in certain Hayfin funds”.
Founded in 2009, Hayfin specialises in direct lending, high-yield credit, distressed investments, and private equity and tactical solutions.
The platform claims to have invested over €45 billion to date through its private market strategies.
BCI first acquired a majority stake in the platform in January 2017, and states that Hayfin has experienced “strong sustained growth and momentum” through its ownership, with assets under management increasing from €8 billion to over €31 billion.
Tim Flynn, co-founder and CEO of Hayfin, says the deal will support the platform’s “ongoing growth while preserving our core identity and operational autonomy”.
The deal is expected to close in Q4 2024, subject to regulatory approval.
