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Home / transaction / Berkshire Global Advisors client Silvermine Capital Management is acquired by Man Group
Berkshire Global Advisors client Silvermine Capital Management is acquired by Man Group
  • has been acquired by

    • Berkshire Global Advisors client Silvermine Capital Management is acquired by Man Group

  • Date: December 2014
  • Sector: Private Markets – Private Equity / Credit
  • Sub-Sector: Private Debt
  • Region: EMEA | North America
  • Seller AUM: $3.8 Billion

    • Seller Details
    Founded in 2005, Silvermine is a SEC registered investment advisor focused on high yield credit. The founding team has worked together for over 10 years using primarily senior secured loans as the basis to express their views through a variety of credit products. Since inception, the Company has executed 16 separate transactions totaling $6.7 billion.

    Buyer Details
    Man Group is a leading investment management business with a diverse offering in hedge funds and long only products across equity, credit, managed futures, convertibles, emerging markets, global macro and multi-manager solutions. Man Group is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index.

    Transaction Summary
    Silvermine will be integrated into Man GLG and will operate under the Man GLG Silvermine name which will complement Man GLG’s existing credit business. Silvermine’s team will remain in place under the leadership of two of the firm’s founders, G. Steven Kalin and Richard F. Kurth, who will continue to work alongside the other co-founders Aaron Meyer and Jonathan Marks. Man Group will benefit from the integration of Silvermine’s specialised and high calibre team, with long-term experience and expertise in US levered credit. Furthermore, the transaction will significantly enhance Man Group’s existing US credit business and global CLO footprint, providing the necessary scale to become a significant player in the US CLO market.