Barings has supported iM Global Partner, a worldwide asset management network, with a significant Acquisition Facility of EUR120 million, which is expected to be fully utilised this summer.
Barings and iM Global Partner will also look into raising an additional Acquisition Facility in the short-term to finance the Company’s strong expansion plans.
Adam Wheeler, co-Head of Global Private Finance, Barings, says: “The full spend of the Acquisition Facility and plans for raising a new Facility are testament to Barings’ strong relationship with iM Global Partner, and we look forward to continuing our collaboration. We believe the Company represents a strong credit opportunity as the platform only invests in conservative and proven partners and therefore shows a strong resilience to absorb market volatility.”
iM Global Partner’s core strategy is to acquire minority stakes in talented entrepreneurial independent asset managers all over the world while offering them a high value-added global distribution platform to grow their AuM.
Wheeler adds: “In our view, the Company benefits from significant operating leverage as it onboards new asset managers while keeping its existing distribution team in place. In addition, it is backed by strong shareholders involved in the business development and the platform is highly scalable. We believe the Company has strong growth potential and aims to further diversify its AuM exposure as new investments are completed.”
Philippe Couvrecelle, CEO and Founder, iM Global Partner, says: “We are pleased with this collaboration with Barings, which supports the expansion of our network. The debt financing is a great addition to the equity arm lead by Eurazeo, our principal shareholder, as well as Amundi, IK Investment Partners and Luxempart. Their continued support have and will help us to achieve our ambitious development plans over the coming years. We are on a trajectory to reach USD150 billion in assets under management by 2030.”