Investcorp, a leading global alternative investment firm, announced today that it has agreed to acquire Marble Point Credit Management LLC (Marble Point), a leading CLO manager based in the United States. The transaction’s specific terms were not disclosed.
“The proposed acquisition of Marble Point is a significant milestone in Investcorp’s 40-year journey of growth through diversification, geographic expansion and building scale. With $50 billion in total firm assets under management after completion of this acquisition, Investcorp is well-poised for the next phase of its evolution and development,” said Mohammed Alardhi, Executive Chairman of Investcorp.
Marble Point is a specialty asset manager focusing only on managing CLOs and portfolios of extensively syndicated leveraged loans, with $7.8 billion in assets under management. Marble Point is helmed by Thomas Shandell, a 38-year credit market veteran, and Corey Geis, who has 27 years of expertise. Eagle Point Credit Management LLC is a subsidiary of Marble Point.
“We are excited to be joining Investcorp,” said Tom Shandell, who will lead Investcorp’s combined US CLO and broadly syndicated loans business. “Investcorp’s credit business has been one of the primary engines in its impressive global expansion and provides an ideal platform to realize the next exciting phase of our continued growth and advancement as a leading credit manager.”
“Our combined platforms represent a formidable player in the credit markets, significantly enhancing our profile in the eyes of capital markets participants,” added Corey Geis, who will serve as Director of Capital Markets, Head Trader and Portfolio Manager at Investcorp.
Thomas Majewski, Founder and Managing Partner of Eagle Point added, “Over the past seven years, Tom and Corey have built Marble Point into a very strong platform. It has been an absolute pleasure working with them and I believe their new combined platform is well positioned for the future.”
Marble Point will be merged with Investcorp Credit Management, a global credit platform with $14.2 billion in assets under management and an 18-year track record of investing in global credit markets. The combined platform will manage $22 billion in assets and will be one of the top 15 CLO managers in the world in terms of AUM.
Rishi Kapoor, Co-Chief Executive Officer of Investcorp with oversight of its credit businesses said, “This is an exciting moment for us and we are looking forward to having Tom, Corey and the entire Marble Point team join us at Investcorp. This strategic acquisition reaffirms our commitment to continue to grow and expand Investcorp’s credit management platform and be a leading global provider of an array of credit-focused products and solutions to our clients.”
Jeremy Ghose, Global Head of Investcorp Credit Management, added, “This acquisition will result in a $22 billion total AUM credit management business with meaningful scale across both US and Europe, and we look forward to further growing the business.”
The deal is subject to standard regulatory approvals and closing conditions and is scheduled to conclude in the first quarter of 2023.
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