Global law firm White Case LLP has advised Indicus Advisors, an alternative investment manager focusing on European leveraged finance and global structured credit, on the sale of a 50 per cen
Global law firm White Case LLP has advised Indicus Advisors, an alternative investment manager focusing on European leveraged finance and global structured credit, on the sale of a 50 per cent stake in its business to European private equity firm, Cinven Limited.
The balance of the firm will remain with Indicus’ senior management. Indicus will remain a distinct firm and will continue to be managed by its current partners, but will leverage Cinven’s infrastructure and relationships. Cinven will retain its focus on private equity.
‘We are delighted to have advised Indicus in what is an important juncture in its rapid development story. We have worked closely with Indicus since its inception two years ago, and have advised on all of its legal matters,’ commented White Case partner Richard Reilly. ‘With global debt markets currently in a state of transition, this deal represents an exciting opportunity for Indicus to further that growth in partnership with Cinven. We wish the partnership every success.’
The White Case team advising Indicus was led by partners Richard Reilly, Philip Broke and Greg Stonefield, working alongside associates Tim Buckland and Jeremy Reynolds.
‘In light of recent movements in global markets, many players in the investment management sector are recognising that they need to adapt in order to maximise global opportunities. With markets likely to remain in a state of flux for the time to come, we anticipate that we will see further strategic partnerships formed as firms seek to capitalise on the opportunities brought about by market conditions,’ added White Case partner Philip Broke.
Indicus was founded in May 2006 by managing partners David Reilly and Ujjaval Desai. Indicus today has 17 professionals located in London and New York with approximately USD 1.75 billion of assets under management. Indicus also advises on over USD 2 billion of structured investments for several large institutional investors. Last year White Case advised Indicus on the issue by Queen Street CLO II B.V., a Dutch issuer, of senior floating rate, subordinated and combination notes. The portfolio consisted of Senior Loans, Mezzanine Obligations, High Yield Bonds and certain Synthetic Securities.