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Berkshire Global Advisors acted as financial advisor to Garrison Investment Group
  • has sold its CLO collateral management agreements to
  • Berkshire Global Advisors acted as financial advisor to Garrison Investment Group

  • Date: April 2020
  • Sector: Private Markets – Private Equity / Credit
  • Sub-Sector: Credit
  • Region: North America
  • Seller AUM: $1.2 Billion
  • Seller Details:
    Garrison Investment Group (“Garrison”) is a middle market credit, distressed and asset based investor. The firm was founded in 2007 and is headquartered in New York. Garrison is a multi-strategy investment manager that deploys capital in opportunities across Corporate Finance (lending and distressed), Financial Assets (commercial, industrial and consumer loans as well as hard asset lending and structured finance), and Real Estate (equity and debt). Garrison’s team of experienced professionals enables them to source and execute defensible transactions across multiple investing disciplines. Garrison manages investor capital through a diversified set of vehicles including private equity format funds and corporate credit lending funds as well as separately managed accounts. In addition, Garrison manages collateralized loan obligations through their affiliate, Garrison Loan Management, and a business development company, Garrison Capital Inc.

    Buyer Details:
    Anchorage Capital Group, L.L.C. (“Anchorage”) is a New York-based registered investment adviser founded in 2003 that manages approximately $13.2 billion across a credit-oriented product platform primarily consisting of four fund families: the Anchorage Capital Partners funds, the Anchorage Short Credit funds, the Anchorage Illiquid Opportunities funds and the Anchorage Structured Credit platform. The Anchorage Structured Credit platform currently consists of 26 vehicles that hold in the aggregate approximately $12.2 billion in collateral obligations in the U.S. and Europe.

    Transaction Summary:
    With the acquisition, Anchorage takes ownership of the management contracts for three portfolios of collateralized loan obligations (“CLOs”) from Garrison.