First Sentier Investors takes majority stake in European alternative credit boutique

investmentweek.co.uk:

Following the transaction, AlbaCore will continue to operate with investment autonomy and will not see a change to its operations, teams, office locations or brand.

First Sentier Investors chief executive Mark Steinberg said the «strategic partnership» with the asset manager diversified the range of investment capabilities the firm can offer to clients, while aligning with its growth strategy. 

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«Today is an exciting and important day for First Sentier Investors, our shareholder Mitsubishi UFJ Trust and Banking Corporation, and our new partner AlbaCore,» he said. 

«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.»

London-headquartered firm AlbaCore invests across various parts of the corporate credit spectrum, including private credit, CLOs, liquid credit and structured credit in Europe. 

According to First Sentier Investors, the partnership will help accelerate the boutique's growth prospects by allowing for greater distribution and expansion of its product offering.  

David Allen, managing partner and CIO at AlbaCore, added: «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."

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Following the transaction, AlbaCore will continue to operate