British Columbia Investment Management Corp. is now the majority shareholder of a European credit manager after buying shares from a consortium of institutional investors including the Public Sector Pension Investment Board and the Ontario Municipal Employees Retirement System.
The investment manager will also be committing capital to current funds managed by the credit firm Hayfin Capital Management LLP, according to a press release.
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“We see this as a strategic long-term investment in a leading company that has the potential to generate value-added returns for our clients,” said Jim Pittman, senior vice-president of private equity at bcIMC. “Having known the Hayfin team since inception, I’m confident in their strategy and ability to further expand their business and raise additional capital through their funds.”
The financial terms of the deal were not disclosed but Hayfin did note its daily operations will continue as usual despite the transaction.
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