Hayfin Capital Management LLP (“Hayfin”), which manages €6.0bn of both owned and third party assets, announces a recapitalisation of the business. As part of this process Hayfin will sell its portfolio of owned assets totalling €705m to The Future Fund, Australia’s Sovereign Wealth Fund, an existing shareholder in Hayfin, and return capital to its institutional investors. Hayfin will continue to manage these assets following the sale to The Future Fund, alongside their other third party funds and separate accounts.
Hayfin remains committed to its role as Europe’s leading direct lending platform. It will continue to manage its growing portfolio of credit funds on behalf of investors and seek to expand its lending platform across Europe where a large number of corporates are looking for alternative sources of debt finance.
Following the sale of assets, the management and team of Hayfin will become greater owners in Hayfin, providing increased alignment between the managers and investors in the funds. Hayfin’s founding shareholder, TowerBrook Capital Partners and its co-investors, The Public Sector Pension Investment Board, The Ontario Municipal Employees Retirement System and The Future Fund, will all see their holdings in Hayfin reduce pro-rata.