Transaction follows successful long-term
partnership with BCI and delivers on Hayfin’s objectives for
greater team ownership, alignment, and incentivization
No changes expected to Hayfin’s strategy,
investment process, leadership, or day-to-day operations
BCI will remain a strategic limited partner in
certain Hayfin funds post-closing
Hayfin Capital Management (“Hayfin”), a leading alternative
asset management firm with c. €31billion in AUM, today announced it
has entered into an agreement with Arctos Partners (“Arctos”), a
private investment firm, to support a management buyout of the
business, acquiring British Columbia Investment Management
Corporation’s (“BCI”) majority stake. Financial terms were not
disclosed.
This new partnership delivers Hayfin’s long-term objectives of
greater team ownership, alignment, and incentivization, as well as
generating superior and consistent risk-adjusted returns for
clients. Arctos, via its Keystone strategy, which provides
strategic partnership to leading financial sponsors, through
bespoke growth capital and liquidity solutions, has underwritten
100 percent of the funding and will facilitate the Hayfin team
becoming the majority owners of the common equity. BCI will remain
a strategic limited partner in certain Hayfin funds.
Founded in 2009, Hayfin specializes in providing European and
North American credit and private equity investment solutions to a
global investor base. BCI acquired a majority stake in the firm in
January 2017, and since that time Hayfin has experienced strong
sustained growth and momentum, quadrupling its AUM, adding senior
talent, and diversifying and expanding its strategies. Hayfin’s
product offering now spans direct lending, special opportunities,
tactical solutions, high-yield/syndicated loans, healthcare
opportunities, maritime yield and private equity solutions.
Tim Flynn, Co-Founder and Chief Executive Officer at Hayfin,
said: “This is an exciting new chapter that will support Hayfin’s
ongoing growth while preserving our core identity and operational
autonomy. Arctos has a best-in-class, like-minded team that
recognizes the enormous opportunity available to investors in the
credit markets today, and their experience only enhances our
ability to serve our investors, borrowers and sponsors. Our
long-standing team is grateful to BCI for the last seven years of
successful collaboration, and we look forward to a continued
relationship with them as an investor in our products.”
Ian Charles, Co-Founder and Managing Partner at Arctos, said:
“Hayfin has an excellent leadership team supported by a robust
bench of talent, proven track record and disciplined investment
style. Their strategic growth ambitions make them an ideal partner
for Arctos Keystone and provides our investors access to Europe’s
leading private credit platform as that market continues to see
rapid growth. We look forward to supporting Hayfin’s long-tenured
investment team in delivering our shared objective of generating
attractive risk-adjusted returns for our respective investors.”
Jim Pittman, Executive Vice President & Global Head of
Private Equity at BCI, said: “We are delighted to have reached this
agreement with Hayfin and Arctos, delivering an excellent outcome
for BCI’s pension plan and insurance clients. We’re extremely proud
of the partnership we forged with the Hayfin team over the past
seven years, which has delivered significant growth in a critical
period for the private credit market. We remain confident in
Hayfin’s investment strategies and are pleased to remain as a
limited partner in certain funds.”
About Hayfin Capital Management
Founded in 2009, Hayfin Capital Management (“Hayfin”) is a
leading alternative asset management firm with c. €31billion in
assets under management. Hayfin focuses on delivering attractive
risk-adjusted returns for its investors across its private debt,
liquid credit and private equity solutions businesses.
Hayfin has a diverse international team of over 200 experienced
industry professionals with offices globally, including
headquarters in London and offices in Dubai, Frankfurt, Luxembourg,
Madrid, Milan, Munich, New York, Paris, Stockholm, San Diego,
Singapore, and Tokyo.
Further information can be found at hayfin.com.
About Arctos Partners
Arctos is a private investment firm that provides bespoke growth
capital and liquidity solutions, differentiated thought
partnership, and value creation advice to sports franchises (Arctos
Sports) and alternative asset managers, their funds, and portfolio
companies (Arctos Keystone). Founded in 2019, Arctos serves as a
catalyst for innovation and business transformation for its
portfolio companies and its markets. The firm’s proprietary
approach is anchored by its unique quantitative research and data
science platform, Arctos Insights. Arctos has a team of more than
50 investment and operational professionals with investment and
operating expertise across industries, geographies, and economic
cycles. The firm is headquartered in Dallas, with office locations
in New York, and London.
Further information can be found at arctospartners.com
About BCI
British Columbia Investment Management Corporation (BCI) is
amongst the largest institutional investors in Canada, with C$250.4
billion in gross AUM as of March 31, 2024. Based in Victoria,
British Columbia, with offices in Vancouver, New York, and London,
U.K., BCI manages a portfolio of diversified public and private
market investments on behalf of its 29 British Columbia public
sector clients.
BCI’s private equity program actively manages a C$31 billion
global portfolio of privately-held companies and funds with the
potential for long-term growth and value creation. Leveraging our
sector-focused teams in business services, consumer, financial
services, healthcare, industrials, and technology, media and
telecommunications, we work with strategic private equity partners
to source and manage direct and co-sponsor/co-investment
opportunities.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240730669345/en/
Press Contacts For Hayfin (North America) Josh Clarkson /
Clare Burrows Prosek Partners pro-hayfin@prosek.com For Hayfin (UK
and EMEA) Stephen Atkinson / James Davey Hawthorn Advisors
hayfin@hawthornadvisors.com For BCI Olga Petrycki Director,
External Stakeholder Engagement media@bci.ca For Arctos Philippa
Ushio Prosek Partners Pro-arctos@prosek.com