Natixis sells private credit business MV Credit to Clearlake Capital
US-based private equity firm Clearlake Capital Group has sealed a deal to acquire MV Credit, a pan-European private credit business with $5.1 billion in AUM, from Natixis Investment Managers.
Clearlake Capital buys MV Credit from Natixis
Active in the private credit space for over two decades, MV Credit specialises in providing fund solutions for investors across senior direct lending, subordinated direct lending, hybrid, and collateralised loan obligation (CLO) strategies.
The company says it has deployed “more than $11 billion since its inception, leading over 500 bespoke transactions of up to $500 million with sponsors such as EQT, Nordic Capital, Cinven and Bain Capital”.
For Clearlake, which also purchased English Premier League club Chelsea FC with Eldridge Industries chief Todd Boehly in 2022, the acquisition of MV Credit, expected to close in Q4 this year, will increase its total AUM to over $90 billion, with its credit business alone boasting a sizable $28 billion in AUM.
Claiming credit is “core to our firm strategy”, José Feliciano, co-founder and managing partner at Clearlake, says the purchase will “broaden our global direct lending capabilities to better serve sponsors and other clients” while also “expanding product offerings for our investors”.
“With this acquisition, Clearlake’s credit business will attain significant scale,” adds Behdad Eghbali, the firm’s other co-founder and managing partner. “We have been very deliberate in how we’ve built our credit business, and the addition of MV Credit, with highly complementary direct lending capabilities, provides us with new opportunities for strategic growth.”
