Bahrain-based alternative investment manager Investcorp has acquired a minority stake in private equity firm Centre Lane Partners.
Terms of the transaction were not revealed.
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The deal was executed through Investcorp’s Strategic Capital Group (ISCG), the New York-based unit that purchases holdings in midsize general partners.
Under the agreement, ISCG will be a passive, non-voting partner to Centre Lane.
Centre Lane said that the ISCG partnership will provide the company with strategic capital to continue its investment in the debt and equity of middle market companies across North America.
The company will also use the proceeds from the deal to scale up its private credit and special opportunities platforms.
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By GlobalDataCentre Lane co-founders and managing directors Quinn Morgan and Ken Lau said: “This transaction is a notable milestone for Centre Lane and we believe it will position us to even better serve our investors by further investing in our business as we continue to grow our existing strategies.
“Investcorp is a global leader in the middle market, shares our vision for providing best-in-class investment services, and we are delighted to have them as a supportive long-term partner.”
ISCG managing partner and head Anthony Maniscalco said: “Under Quinn and Ken’s leadership, Centre Lane has established itself as a leading middle market investment firm with an outstanding reputation.
ISCG partner and head of Investmenets David Lee added: “We believe that Centre Lane is differentiated from its peers by its combined expertise in private equity, private credit and operational value-add, and is well-positioned for continued success.
“We look forward to supporting the Firm as it focuses on continuing to generate superior returns for investors.”
Recently, Investcorp agreed to divest its indirect interest in Swiss private bank Banque Pâris Bertrand to Rothschild & Co Bank.
In May this year, Investcorp and Tages Group merged their absolute-return businesses to form an equal stake joint venture (JV).
The move combined Investcorp’s Absolute Return Investments (ARI) business with Tages’ absolute return arm Tages Capital.
