PE Deals

First Sentier Investors buys majority stake in AlbaCore

AlbaCore Capital Group is a European credit manager.

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  • AlbaCore’s senior team will maintain a minority stake in the company
  • FSI is a global investment manager headquartered in Sydney, Australia
  • The firm managed $146.2bn in assets as of 31 December 2022

First Sentier Investors (FSI) has made a majority investment in AlbaCore Capital Group, a European credit manager. No financial details of the transaction were disclosed.

AlbaCore is headquartered in London and has $9.5 billion in assets under management.

AlbaCore’s senior team will maintain a minority stake in the company and will continue to invest capital into funds, according to a release.

FSI and AlbaCore’s partnership will help accelerate their strategic plans and long term growth trajectory, the release added.

“We identified alternative credit as a strategically important space for us to consider and we felt that AlbaCore’s unique position in the European market, its growth trajectory and strong investment performance would be complementary to our existing capabilities,” said Mark Steinberg, CEO of FSI.

The transaction is expected to be completed by the third quarter of 2023, subject to regulatory approvals.

FSI is a global investment manager headquartered in Sydney, Australia. The firm managed $146.2 billion in assets as of 31 December 2022.