Liechtenstein-based LGT Capital Partners is set to acquire European Capital Fund Management (European Capital), a private debt manager from companies controlled by Ares Management.
The transaction, subject to regulatory approval, is expected to close in the second quarter of 2017.
European Capital has offices in Paris and London. All private debt funds it manages will be integrated to LGT Capital Partners, which will therefore strengthen its private markets offering.
“We are pleased to attain such an experienced team that has built a strong reputation in this area over many years. With its dedicated focus on small and mid-market direct lending, and its diligent investment approach, we see a very good fit with our investment philosophy.
“The private debt team will continue to be led by the existing four partners, Matthew Gordon Clark, Etienne Haubold, Stephane Legrand and Juan Carlos Morales Cortes,” said Roberto Paganoni, CEO of LGT Capital Partners.
“After developing the business as a team over the last 11 years, we are very pleased to join LGT Capital Partners. We are convinced that LGT Capital Partners’ reputable, international platform will enable us to jointly accelerate the growth of the private debt business,” commented Juan Carlos Morales Cortes, Partner of European Capital.
LGT Capital Partners is the asset management arm of LGT group.