Milbank LLP is representing Clearlake Capital Group, L.P. (“Clearlake”) in connection with its agreement to acquire European private credit specialist MV Credit from Natixis Investment Managers.
The acquisition, which will boost Clearlake’s private credit, CLO and direct lending capabilities, is expected to close in the fourth quarter of 2024, subject to customary closing conditions. Following the acquisition, Clearlake’s credit business, including affiliates such as WhiteStar Asset Management, will have over $28 billion assets under management (AUM), with a firmwide AUM of over $90 billion for Clearlake.
MV Credit, an independently managed private credit firm, has invested over $11 billion and has executed over 500 bespoke direct lending deals since it was founded in 2000. As one of the first private credit firms to be established in Europe, MV Credit possesses the longest established management team in the private credit space.
The Milbank team advising Clearlake and spearheading the private credit and CLO aspects of the deal, is led by New York-based Alternative Investments partner and practice group leader Sean M. Solis, along with special counsel Martin Brennan and London-based Alternative Investments associate Connor Clune, with support from Tax partner Eschi Rahimi-Laridjani and special counsel Craig Cohen in New York and Tax partner Alan Rafferty and special counsel Andrew Callaghan in London.
