Oakley Capital has acquired a majority stake in Global Loan Agency Services (GLAS), a debt administration provider operating in the private credit market.
The pan-European private equity firm completed the deal alongside Canadian pension fund La Caisse (formerly CDPQ), which has taken a minority stake in the business. The acquisition is intended to support GLAS’s international expansion, Oakley said.
Oakley bought the stake from Levine Leichtman Capital Partners for an undisclosed sum. The seller will retain a small holding in GLAS.
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London-headquartered GLAS provides administration and trustee services across the credit markets, including private credit and leveraged finance. The firm oversees more than $750bn (£557.5bn) of assets across its global platform and manages the full lifecycle of debt instruments, from transaction execution to interest determination.
“GLAS sits at the heart of the fast-growing private credit ecosystem,” said Martin Longchamps, executive vice-president and head of private equity and private credit at La Caisse. “Its global presence, technology leadership, and deeply embedded relationships with leading clients make it an asset well positioned for continued growth. We look forward to partnering with Oakley and GLAS to support the platform’s next successful chapter.”
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GLAS will continue to be led by founder and chief executive Mia Drennan, alongside chief financial officer Ethan Levne and chief commercial officer Joanne Brooks.
“Mia has successfully built a global leader in the market for debt administration, a market with strong and attractive growth characteristics,” said Peter Dubens, co-founder and managing partner at Oakley Capital. “We are pleased to be partnering with such an accomplished entrepreneur and look forward to supporting the next phase of GLAS’ growth.”
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