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Berkshire Global Advisors acted as financial advisor to First Sentier Investors
  • entered into a strategic partnership with
  • Berkshire Global Advisors acted as financial advisor to First Sentier Investors

  • Date: March 2023
  • Sector: Private Markets – Private Equity / Credit
  • Sub-Sector: Credit
  • Region: APAC | EMEA
  • Seller AUM: 9.5 Billion
  • Seller Details:

    Founded in 2016, AlbaCore Capital Group is one of Europe’s leading specialist credit investors, and manages over US$9.5 billion (as at 28 February 2023) in AUM across liquid strategies, CLOs, structured products, dislocation funds and private credit. The senior investment team have been investing together for over a decade. AlbaCore has invested over ~US$25 billion for global pension funds, sovereign wealth funds, consultants, insurance companies, family offices and endowments.

    Buyer Details:

    First Sentier Investors manages US$146.2 billion in assets (as at 31 December 2022) on behalf of institutional investors, pension funds, wholesale distributors, investment platforms, financial advisers and their clients worldwide. The firm was acquired by Mitsubishi UFJ Trust and Banking Corporation, a wholly-owned subsidiary of Mitsubishi UFJ Financial Group, Inc in August 2019, and operates as a standalone global investment management business with offices across Europe, the Americas, and Asia Pacific. First Sentier Investors is a globally Certified B Corporation and signatory to the UK Stewardship Code. The firm’s investment expertise spans across a range of asset classes and specialist sectors focused on delivering sustainable investment success based on responsible investment principles.

    Transaction Summary:

    First Sentier Investors (“FSI”), a leading global investment manager, entered a strategic partnership with a leading European credit manager, AlbaCore Capital Group (“AlbaCore”).
    FSI will make a majority interest in AlbaCore, while the senior executives will maintain a significant minority ownership stake and remain committed to the company over the long-term.
    As part of FSI’s multi-boutique approach, AlbaCore will continue to operate with investment and business autonomy with no change to its teams, office locations or brand. AlbaCore’s broad product offerings enable FSI to offer new asset classes and structures to clients, as well as unlocking new channels, regions and products to meet growing investor demand in the sector. FSI will support AlbaCore’s strategy to continue growing its business in credit investment strategies while enhancing its distribution and capital raising capabilities across Asia-Pacific, North America and EMEA.