Fintech PR
Clearlake Capital to Acquire MV Credit from Natixis Investment Managers, Expanding its Private Credit and Loan Origination Capabilities Worldwide
MV Credit will Significantly Enhance Clearlake’s Capabilities in Direct Lending and Private Credit to Sponsors and Other Clients
MV Credit Acquisition will Bring Clearlake’s AUM to Over $90 Billion and Clearlake Credit AUM to Over $28 Billion
SANTA MONICA, Calif. and LONDON, Sept. 3, 2024 /PRNewswire/ — Clearlake Capital Group, L.P. (“Clearlake” or the “Firm”), an investment firm founded in 2006 operating integrated businesses across private equity, credit and other related strategies, today announced that it has agreed to acquire MV Credit, a pan-European private credit specialist, from Natixis Investment Managers (“Natixis IM”). The acquisition is expected to close in the fourth quarter of 2024, subject to customary closing conditions.
Founded in 2000 and headquartered in London, MV Credit is an independently managed European private credit specialist. With $5.1 billion in assets under management (AUM), MV Credit provides tailored fund solutions to investors across senior direct lending, subordinated direct lending, hybrid, and collateralized loan obligation (CLO) strategies. MV Credit 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. MV Credit is differentiated by its experienced senior management team, whose members each have more than two decades of investment experience across multiple credit cycles.
Upon closing, Clearlake’s credit business will have over $28 billion AUM, as well as firmwide AUM of over $90 billion. Upon the close of the acquisition, Clearlake’s team will consist of more than 230 professionals with offices in Santa Monica, Dallas, Dublin, London, Singapore, Abu Dhabi, Paris and Luxembourg.
“Credit has been in Clearlake’s DNA since our inception and is core to our firm strategy. MV Credit’s exceptional track record and deep expertise in private credit align perfectly with our existing credit business and strengthen our continuing presence in Europe,” said José E. Feliciano, Co-Founder and Managing Partner at Clearlake. “Clearlake has deployed over $40 billion in debt and preferred equity investments since 2006, and with MV Credit’s expertise we will broaden our global direct lending capabilities to better serve sponsors and other clients while expanding product offerings for our investors.”
“With this acquisition, Clearlake’s credit business will attain significant scale, with credit AUM growing from ~$6 billion in 2020 to over $28 billion today,” said Behdad Eghbali, Co-Founder and Managing Partner at Clearlake. “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.”
“Clearlake and MV Credit share a similar credit investment philosophy and culture, and we believe the combination will be a winning proposition for the market,” said Frédéric Nadal, Chief Executive Officer of MV Credit. “The demand for private credit keeps growing, and the partnership with Clearlake allows us to further address client needs around the world. Our firms share a culture of teamwork, integrity and commitment to excellence. We look forward to being part of the Clearlake family.”
Kirkland & Ellis LLP and Milbank LLP are serving as legal advisors to Clearlake, while Fenchurch Advisory is acting as financial advisor and Dentons is acting as legal advisor to Natixis IM on the transaction. DLA Piper LLP is serving as legal advisor to the MV Credit Partners.
About Clearlake
Clearlake Capital Group, L.P. is an investment firm founded in 2006 operating integrated businesses across private equity, credit and other related strategies. With a sector-focused approach, the firm seeks to partner with experienced management teams by providing patient, long-term capital to dynamic businesses that can benefit from Clearlake’s operational improvement approach, O.P.S.® The firm’s core target sectors are industrials, technology and consumer. Clearlake currently has over $85 billion of assets under management and its senior investment principals have led or co-led over 400 investments. The firm is headquartered in Santa Monica, CA with affiliates in Dallas, TX, London, UK, Dublin, Ireland Singapore and Abu Dhabi, UAE. More information is available at www.clearlake.com.
About MV Credit
MV Credit is an independently managed private credit firm founded in 2000. One of the first private credit firms to be established in Europe, MV Credit possesses the longest established management team in the private credit space, with a senior team who has on average over twenty years’ experience. Since inception MV Credit has invested circa €10.3bn in about 500 bespoke direct lending deals, building over time strong long-term relationships with top-tier sponsors. MV Credit invests in senior and subordinated debt across Europe, targeting non-cyclical, defensive industries and regions where we have a strong understanding. The firm’s deep experience enables us to add value by providing tailored financing solutions to high-quality businesses, alongside adding value through active engagement. For more information, please visit www.mvcredit.com.
About Natixis Investment Managers
Natixis Investment Managers’ multi-affiliate approach connects clients to the independent thinking and focused expertise of more than 15 active managers. Ranked among the world’s largest asset managers1 with more than $1.3 trillion assets under management2 (€1.2 trillion), Natixis Investment Managers delivers a diverse range of solutions across asset classes, styles, and vehicles, including innovative environmental, social, and governance (ESG) strategies and products dedicated to advancing sustainable finance. The firm partners with clients in order to understand their unique needs and provide insights and investment solutions tailored to their long-term goals.
Headquartered in Paris and Boston, Natixis Investment Managers is part of the Global Financial Services division of Groupe BPCE, the second-largest banking group in France through the Banque Populaire and Caisse d’Epargne retail networks.
1 Survey respondents ranked by Investment & Pensions Europe/Top 500 Asset Managers 2024 ranked Natixis Investment Managers as the 19th largest asset manager in the world based on assets under management as of December 31, 2023.
2 Assets under management (“AUM”) of current affiliated entities measured as of June 30, 2024, are $1,320.8 billion (€1,232.3 billion). AUM, as reported, may include notional assets, assets serviced, gross assets, assets of minority-owned affiliated entities and other types of non-regulatory AUM managed or serviced by firms affiliated with Natixis Investment Managers.
For Clearlake:
Jennifer Hurson
Lambert
+1-845-507-0571
[email protected]
For MV Credit:
Anne-Marie Kesselman Head of Communications & Marketing
+44 7787 267091
[email protected]
For Natixis Investment Managers:
Ambrose Fullalove
FTI Consulting
+44 7970 982748
[email protected]
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Fintech PR
Wahed appoints Khalid Al Jassim as Executive Chairman of Wahed MENA to help guide the strategic growth of Wahed in the region
DOHA, Qatar, Nov. 24, 2024 /PRNewswire/ — Wahed, a global Shariah-compliant fintech, has appointed Khalid Al Jassim as Chairman of Wahed MENA.
On this appointment, Khalid commented, ”I am excited to guide Wahed’s growth in the region. Wahed’s mission of furthering Islamic Finance is one I resonate with deeply and I look forward to supporting its growth ambitions.”
Khalid has over twenty five years of investment banking and corporate advisory experience gained with some of the most innovative and groundbreaking institutions in the world.
His career spans leading firms including SABIC, Arthur Anderson and Arcapita Bank in Bahrain, where he was instrumental in making it into one of the PE powerhouses in the region. His responsibilities started in the earlier years with establishing the Investment Placement Team and transforming it into one of the most robust teams in the industry. At the time that Khalid left Arcapita to build his personal business, he was an Executive Director. Today he is Chairman of Afkar Vision, a private advisory house specialized in mergers and acquisitions with offices in Manama, Dubai and Riyadh.
As well as being one of the earliest investors in Wahed, he is currently Chairman of the Audit Committee and Board Member at Bahrain Islamic Bank, the 4th oldest Islamic Bank in the World and Board Member at SICO Bank and SICO Capital in Saudi, an $8bn asset manager in the region.
Mohsin Siddiqui, Wahed CEO said, “We are delighted to announce Khalid’s appointment. His unique understanding of the financial landscape in the MENA region is unparalleled and we are excited to bring this expertise in continuing to grow our presence in the region.”
About Wahed
Founded in 2015, Wahed is a financial technology company that is advancing financial inclusion through accessible, affordable, and values-based investing. The company has made significant inroads in the world Shariah compliant investing by creating an easy-to-use digital platform that provides a suite of Shariah compliant investing products including managed portfolios and venture and real estate investments. Wahed caters to over 400,000 customers globally and manages over $ 1 billion in assets.
For more information, visit: www.wahed.com
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Fintech PR
Qatar Development Bank announces strategic investment in global Islamic FinTech, Wahed
DOHA, Qatar, Nov. 24, 2024 /PRNewswire/ — Qatar Development Bank (QDB) announces a strategic investment in Wahed, a global Shariah-compliant fintech.
Wahed currently manages over $1 billion in assets and has attracted over 400,000 clients worldwide. The company is built on the principles of democratizing access to financial services and offers clients access to Shariah-compliant investments in its mobile app. Wahed removes the barriers to sophisticated investment management services that have been traditionally reserved for high-net-worth investors.
Khalid Al Jassim, Executive Chairman of Wahed MENA said: ‘We are delighted to welcome our new shareholders, QDB. We believe Qatar is fully aligned with our mission in creating a technology-first Islamic finance leader that unlocks a financial ecosystem free from Riba. We look forward to supporting the Qatar National Vision 2030 of becoming a leading knowledge-based economy.
Ali Rahimtula, Partner at Cue Ball Capital said: “Qatar Development Bank’s strategic investment is a clear signal of the faith the industry has in Wahed and its ability to create the future of Islamic Finance.”
About Wahed
Founded in 2015, Wahed is a financial technology company that is advancing financial inclusion through accessible, affordable, and values-based investing. The company has made significant inroads in the world Shariah compliant investing by creating an easy-to-use digital platform that provides a suite of Shariah compliant investing products including managed portfolios and venture and real estate investments. Wahed caters to over 400,000 customers globally and manages over $ 1 billion in assets.
For more information, visit: www.wahed.com
About Qatar Development Bank
Qatar Development Bank’s mission is to advance the economic and innovation development cycle of Qatar, supporting and contributing to the nation’s economic diversification. As well as a focus on the development of Qatar’s private sector, QDB is a powerful catalyst for socio-economic development in the country, empowering the local economy and bettering living standards.
For more information, visit: https://www.qdb.qa/
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Fintech PR
China’s AIMA brand electric motorbike is now in Bangladesh
DHAKA, Bangladesh, Nov. 23, 2024 /PRNewswire/ — With the popularity of electric vehicles in Bangladesh, the globally renowned AIMA brand has also arrived in Bangladesh. The esteemed DX Group has brought the AIMA F-626 to customers. This environmentally friendly battery-operated electric motorbike has already been approved by the Bangladesh Road Transport Authority (BRTA) now.
In light of the increasing popularity of electric motorcycles in the country, the internationally-leading brand AIMA has entered the market. By the end of 2023, AIMA electric two-wheelers had established a presence in over 50 countries worldwide, with 11 global production bases, including overseas factories in Indonesia and Vietnam. In 2022, AIMA collaborated with Rob Janoff, the designer of the Apple logo, to refresh the brand’s VI system with a youthful and fashionable image. In 2023, AIMA teamed up with PANTONE, the global authority in color expertise, to create the trending color of the year. As an industry leader, AIMA spearheads the electric two-wheeler sector and showcases the prowess of a leading electric two-wheeler brand on a global scale. As of March 31, 2024, AIMA’s total electric two-wheeler sales had reached 80 million units, earning certification from Frost & Sullivan, a globally recognized business growth consulting firm, as the “Global Leading Electric Two-wheeler Brand”.
Over the years, AIMA has always been a product trendsetter in the electric two-wheeler sector. As of March 31, 2024, the total sales volume of AIMA electric two-wheelers reached 80 million, and Frost & Sullivan, a world-renowned market consulting company, awarded AIMA with the market status certification of the “Global Leading Electric Two-wheeler Brand (by Sales)”.
AIMA adhere to the customer-centered product philosophy and technologies that support long-term innovation and breakthroughs. We believe that the efficiency and modern technology of the AIMA F-626 will present an excellent alternative means of communication for our customers.
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View original content:https://www.prnewswire.co.uk/news-releases/chinas-aima-brand-electric-motorbike-is-now-in-bangladesh-302314773.html
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