The completion of First Sentier Investors’ majority investment into AlbaCore will diversify the range of investment capabilities it can offer to clients, running parallel to the company’s strategy to bolster growth.
Headquartered in London, AlbaCore has solutions spanning various sections of the corporate credit journey including private credit, CLOs, liquid credit, and structured credit in Europe.
Furthermore, the partnership with First Sentier Investors will boost AlbaCore and its growth prospects by expanding market access to its experience and deepening its product offering.
In addition, AlbaCore will operate with investment autonomy with no change to its operations, teams, office locations or brand. The senior team at AlbaCore will maintain a minority ownership stake in the business and will continue to invest capital into funds alongside First Sentier Investors.
“Today is an exciting and important day for First Sentier Investors, our shareholder Mitsubishi UFJ Trust and Banking Corporation, and our new partner AlbaCore. The alternative credit capabilities that AlbaCore brings to the table complements our existing investment capabilities and enables us to unlock new asset classes and structures for our clients,” Mark Steinberg, First Sentier CEO, said.
He continued: “Together, we have made strong headway in exploring areas in our respective businesses to collaborate and accelerate our respective strategic plans and longer-term growth trajectories.”
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David Allen, managing partner and chief investment officer at AlbaCore said: “We are delighted to be officially part of the First Sentier Investors Group. We look forward to providing compelling opportunities within alternative credit to the broader First Sentier Investors business, to access new client markets and channels. This strategic partnership is rooted in the deep alignment of people, values and culture at First Sentier Investors and AlbaCore, and we are excited to formally start working together.”