Brightwood Capital Advisors, a personal credit score agency with over $6bn (£4.58bn) in property beneath administration (AUM), has taken over administration of two non-public credit score funds beforehand managed by Capital Dynamics.
Below the phrases of the transaction, Brightwood will assume administration of the funds’ portfolios, representing roughly $300m in commitments. The present fund buildings will stay in place, permitting present restricted companions to take care of their investments with no extra capital dedication required.
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Brightwood and Capital Dynamics have labored intently collectively to supply a continued funding alternative and liquidity via a secondary buy choice, in partnership with Tikehau Capital, marking the second transaction Brightwood has accomplished with Tikehau prior to now 18 months.
“We’re thrilled to welcome these portfolios and traders to the Brightwood platform,” mentioned Sengal Selassie, chief government of Brightwood.
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“This transaction demonstrates Brightwood’s dynamic strategy to partnership and our means to ship tailor-made options in an evolving non-public credit score panorama.”
“We’re delighted to conclude this course of by partnering with Brightwood on this transaction. By way of our complete strategic strategy, we had been capable of finding a companion with robust alignment, funding acumen, and strong operational capabilities for the subsequent stage of the funds’ development,” added Martin Hahn, chief government at Capital Dynamics.
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