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Laxman Pai, Opalesque Asia:

Global growth equity firm General Atlantic has agreed to acquire global investment manager Iron Park Capital Partners, as it seeks to build out a credit arm amid an uncertain economy that has pressured fund-raising by private equity firms.

After the transaction closes, Iron Park will be integrated into the firm as General Atlantic Credit (GA Credit). The firm as a whole will continue to be General Atlantic, said a news release from the American growth equity firm.

The terms of the deal were not disclosed. The deal is expected to close in the first quarter of 2023, subject to, among other things, regulatory approvals.

GA Credit will "expand and enhance the firm's ability to provide creative capital solutions to high-quality companies in need of a strategic partner at multiple stages of corporate and economic life cycles," the news release added.

"Iron Park currently offers a range of credit solutions that are rooted in a robust and well-developed investment process designed to meet the specific needs of investors and borrowers. The firm's investment offerings include funds that invest in both the public and private credit markets, including Atlantic Park, a joint venture formed with General Atlantic in 2020," said the release.

Atlantic Park provides structured equity and debt financing to businesses around the world that require capital to support M&A, refinancing, recapitalization, and growth initiatives.......................

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