bcIMC is acquiring a majority stake in Hayfin Capital Management from its current institutional investors to support Hayfin's growth and simplify its ownership structure.

Transaction Summary

On February 2, 2017, Hayfin Capital Management LLP ("Hayfin"), a prominent European credit platform managing €8.2 billion in assets, announced that the British Columbia Investment Management Corporation ("bcIMC") has agreed to acquire a majority shareholding in the firm from its current institutional investors. This transaction is designed to support Hayfin's long-term growth objectives and simplify its ownership structure while ensuring that Hayfin's management and employees continue to hold significant stakes alongside bcIMC.

bcIMC, a Canadian investment management firm overseeing approximately C$122 billion in assets, is set to acquire the entirety of the shares held by Hayfin’s existing institutional investors, which include TowerBrook Capital Partners, PSP Investments ("PSP"), the Ontario Municipal Employees Retirement System ("OMERS"), and The Future Fund. In addition to the share acquisition, bcIMC will contribute considerable capital to the funds managed by Hayfin, reinforcing its commitment to the firm's future development. Importantly, Hayfin will maintain its focus on managing third-party assets, and the day-to-day operations, investment strategies, and personnel decisions will remain independent post-transition.

The exact financial terms of the acquisition have not been disclosed, and