New York-based private equity firm Pine Brook has agreed to acquire Dallas-based credit investment firm Triumph Capital Advisors for an undisclosed sum.
Triumph Capital Advisors, a wholly owned subsidiary of Triumph Bancorp, manages and provides other services with respect to collateralised loan obligations (CLOs).
In addition, Pine Brook also offered $250m equity to Trinitas Capital Management, a $1bn capitalised manager vehicle.
Subject to customary closing conditions, the deals are expected to be wrapped up in the first half of 2017.
Pine Brook managing director Bharath Srikrishnan said: “The implementation of risk retention has increased capital requirements for CLO managers, creating a need for strong management teams to attract significant amounts of equity capital.
“Pine Brook was formed for exactly this reason: to provide management teams with the capital they need to build their businesses. We view Gibran Mahmud and his team as best-in-class managers, and are excited to partner with them to grow a leading credit asset management business.”
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below formBy GlobalData