Eldridge Industries is believed to be in superior talks to purchase European non-public credit score agency Hayfin Capital Administration for greater than €1.2bn (£1.03bn).
In response to Bloomberg, Eldridge – which is owned by US financier Todd Boehly – is amongst last bidders in talks to amass Hayfin.
The acquisition would give Eldridge additional entry to the rising non-public credit score market. As a holding firm, Eldridge manages a diversified portfolio of corporations, together with six asset managers.
Learn extra: European direct lending deal quantity drops as BSL market recovers
These embrace mezzanine debt supplier Maranon, various investor Hudson Structured, and various lender Stonebriar. In 2022, Eldridge offered non-public credit score specialist CBAM to Carlyle World Credit score in a deal value roughly $615m (£490.7m).
Hayfin specialises in European non-public credit score offers, and holds belongings underneath administration of greater than €31bn. Because it was based in 2009, it has invested greater than €41bn in over 500 corporations by means of its non-public markets methods.
Learn extra: Fitch: Competitors in non-public debt is intensifying
Final 12 months, Hayfin raised greater than €6bn for its largest fund – Hayfin Direct Lending Fund IV – which lends cash to non-public corporations.
The agency lately bolstered its non-public credit score crew with the appointment of BlackRock veteran Michaela Campbell as a managing director.
Learn extra: Hayfin bolsters non-public credit score crew
