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Laxman Pai, Opalesque Asia: The $347+bn global investment manager Barings announced that it will purchase Australian-based Gryphon Capital Partners (GCP), a specialist asset manager that focuses on investments in the structured finance and less liquid credit markets in Europe and Australia.
Charlotte-based Barings said in a media release that it has entered a definitive agreement to buy 100% of GCP - the parent company of wholly-owned Gryphon Capital Investments (GCI) - for an undisclosed sum and is looking to grow its presence in Australia with an acquisition expected to close at the end of this month.
"The transaction will enable Gryphon to scale its investment strategy through Barings' global platform while expanding Barings' global structured finance solutions in the Asia Pacific region (APAC) and accelerating Barings' entry into the Australian wealth market," said the press note.
GCI serves as the investment manager of Gryphon Capital Income Trust.
Gryphon's A$2.6 billion ($1.72bn) in AUM to combine with Barings Global Structured Finance's US$8.2 billion in AUM, it pointed out.
Steven Fleming, Gryphon's Co-founder and Portfolio Manager, said: "Our clients will benefit from Barings global investment capabilities together with the operational and business support from one of the world's leading asset managers. The transaction is expected to bolster Gryphon's access to capital and strengthen its ability to deliver its long-term growth strategy."
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