Liechtenstein-based LGT Capital Partners has agreed to acquire London- and Paris-based private debt manager European Capital Fund Management from companies controlled by Ares Management for an undisclosed sum.
All private debt funds managed by European Capital alongside a team of over 20 specialists will be integrated into LGT as part of the deal.
The private debt team will however continue to be spearheaded by European Capital’s current partners namely, Matthew Gordon Clark, Etienne Haubold, Stephane Legrand and Juan Carlos Morales Cortes.
LGT Capital Partners CEO Roberto Paganoni said: "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 deal is slated to be wrapped up in the second quarter of 2017, subject to regulatory approval.