An affiliate of CPPIB Credit Investments Inc. has sold a 16 per cent stake in financing company Antares Holdings to a private investment fund managed by Northleaf Capital Partners.
Antares and Northleaf, an independent global private markets fund manager headquartered in Toronto, will form a broad strategic relationship that will include developing separately managed accounts and other investment solutions designed specifically for Canadian asset managers, institutional investors and private clients, according to a press release.
Read: CPPIB completes Antares Capital acquisition
The Canada Pension Plan Investment Board acquired Antares in August 2015 from GE Capital and it will remain its largest shareholder. “Antares has outperformed expectations since our acquisition by combining its market-leading origination platform with CPPIB’s access to capital at scale,” said Ryan Selwood, managing director and head of direct private equity at the pension fund.
“This transaction will further broaden and diversify Antares’ investor base.”
David Brackett, managing partner and co-chief executive officer of Antares Capital in Chicago, said the transaction demonstrates an entry point for the firm into middle-market private credit. “Expanding our asset management business has been a strategic priority for Antares since we became a standalone business,” he said. “We’re excited to team up with Northleaf and its investors as we grow our asset base and expand our separate account programs.”