Cairn Capital Group (Cairn Capital), supported by Mediobanca as its majority shareholder, has completed the acquisition and merger with Bybrook Capital (Bybrook).
Bybrook is a London-based specialist credit manager, focused on absolute value stressed/distressed debt and special situations in Europe. It has established an outstanding track record since inception. Bybrook currently manages approximately USD2.4 billion on behalf of top tier international institutional investors.
The merger creates a leading European-focused credit manager with global reach and proven track records across the credit spectrum. The combined firm has approximately USD9 billion of assets under management across leveraged finance, structured credit, special situations and stressed/ distressed debt strategies. The complementary research capabilities, sourcing networks, and investment expertise of the combined 30-plus person investment team will expand the available opportunity set. The firm’s robust investment processes will allow for enhanced risk-adjusted returns as opportunity sets shift over time. The combined firm is ideally positioned to offer high-quality investment strategies and customised solutions, including access to co-investment opportunities, throughout the cycle, to institutional investors and strategic partners.
Post the closing, Mediobanca retains its majority ownership in the combined firm with the remaining minority ownership shared among senior leadership from Bybrook and Cairn.