Marblegate and Investcorp form strategic partnership
Marblegate Asset Management (Marblegate), an alternative investment firm that invests in credit opportunities and special situations, has partnered with Investcorp’s Strategic Capital Group (ISCG). Terms of the transaction have not been disclosed.
The partnership with ISCG provides Marblegate with long-term capital to strengthen its investment platform and continue to enhance its capabilities in middle market debt. Furthermore, Investcorp’s deep private markets expertise and global investor network, combined with Marblegate’s unique restructuring knowledge and reputation for operational excellence, provide for an optimal partnership.
“We are delighted to bring on a highly complementary minority partner with the skills and experience of a global leader like Investcorp,” says Andrew Milgram, Managing Partner and Chief Investment Officer of Marblegate.
Under the terms of the agreement, ISCG will be a passive, non-voting partner to Marblegate. There will be no changes to Marblegate’s team, strategy, execution of its investment processes nor day-to-day operations in connection with the partnership.
“We believe that Marblegate is highly differentiated from its peers in the middle market credit space with its focus on bringing innovative solutions to event-driven and distressed opportunities,” says Anthony Maniscalco, Managing Partner and Head of ISCG. “We look forward to supporting the team as Marblegate further distinguishes itself in the market.”
Marblegate intends to utilise the transaction proceeds to increase its capital commitments toward its investments and continue to enhance its special situations platform, where it has generated attractive historical performance and sees compelling go-forward opportunities.
“This additional long-term capital will help position Marblegate for continued success across our credit platform,” adds Paul Arrouet, Managing Partner at Marblegate.
Launched in 2019, Investcorp’s Strategic Capital Group seeks to be a long-term strategic partner to mid-sized alternative asset managers, with a primary focus on GPs it believes to be well-established, with successful track records and that are poised for growth. This partnership represents ISCG’s fourth transaction since the strategy’s launch.
Seward & Kissel LLP represented Marblegate Asset Management in connection with this transaction