• Seller
  • Buyer
  • Type
  • Date Announced
  • Seller AUM
  • WCAS Fraser Sullivan
  • 3i
  • Other
  • August 2, 2012
  • $2.5 Billion

Seller Details

WCAS Fraser Sullivan is a specialized debt management company which invests third party capital in the North American non-investment grade markets. Headquartered in New York and employing 13 professionals, it currently manages approximately US$2.5 billion of AUM through six CLOs, a credit opportunity fund and an unlevered senior loan fund.

Buyer Details

3i is a leading international investor focused on mid-market private equity, infrastructure and debt management across Europe, Asia and the Americas. As of 31 March 2012, 3i had total AUM of approximately £10.5 billion, including approximately £6.3 billion advised or managed on behalf of third parties.

Transaction Summary

3i's strategic partnership with Fraser Sullivan, a leading specialist US debt manager, will establish 3i's US debt management platform. This provides access to the large and liquid US credit markets and builds upon 3i's existing European debt management business.

This strategic transaction will increase 3i Debt Management's ("3iDM") AUM to approximately US$10.2 billion (£6.5 billion) on a pro forma basis and includes both active managed and advised funds.