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Laxman Pai, Opalesque Asia: Voya Investment Management, the asset management business of Voya Financial (VOYA), will acquire the private credit asset manager Czech Asset Management (CAM) by year-end, increasing capital committed to private credit by $5 billion.
The terms of the deal were not disclosed. The deal, expected to close in Q4/2022, will be immaterial to Voya's financial position.
"At Voya IM, continuing to build out our range of innovative, private markets and alternative capabilities has been a strategic focus and growth driver for our firm and the industry at large," said Christine Hurtsellers, chief executive officer, Voya IM. "The team at CAM will complement our leading fixed income platform and accelerate the expansion of our private and leveraged credit franchise across institutional, insurance, and retail channels."
With more than $5 billion of committed capital across four funds since its founding in 2011, CAM specializes in providing privately negotiated first and second lien floating rate senior secured loans primarily to U.S. middle market companies.
According to a press release from the health, wealth, and investment company, the CAM team brings to Voya IM strong relationships with a robust group of investment partnerships, including public and private pension funds, endowments, foundations, religious organizations, and Taft Hartley plans.
Following the closing of the transaction, all of CAM's current investment and operat...................... To view our full article Click here
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