BCI to Sell Majority Stake in Hayfin Capital Management to Arctos Partners
Key Points:
- Sale Agreement:
- British Columbia Investment Management Corporation (BCI) has agreed to sell its majority stake in Hayfin Capital Management, a UK-based alternative asset management platform, to private investment firm Arctos Partners.
- Management Buyout Support:
- Hayfin has entered into an agreement with Arctos Partners to support a management buyout, aiming for greater team ownership, alignment, and incentivization.
- Arctos Keystone’s Role:
- Arctos Keystone, a division of Arctos Partners, has fully underwritten the funding, allowing the Hayfin team to become majority owners of the common equity.
- BCI’s Continued Involvement:
- BCI will remain a strategic limited partner in certain Hayfin funds, even after the sale.
- Company Background and Growth:
- Founded in 2009, Hayfin specializes in direct lending, high-yield credit, distressed investments, and private equity. The platform has invested over €45 billion to date.
- Under BCI’s ownership since 2017, Hayfin’s assets under management have grown from €8 billion to over €31 billion.
- Expected Deal Closure:
- The transaction is expected to close in Q4 2024, pending regulatory approval
