On April 5, 2023, Sound Point Capital Management, LP announced that it will acquire Assured Investment Management LLC.
Under the terms of the transaction, Sound Point Capital Management, LP (“Sound Point”) entered into an agreement to acquire Assured Investment Management LLC (“Assured”). The transaction is expected to close early in the third quarter of 2023, subject to customary regulatory approvals.
Sound Point, based in New York, is an alternative asset management firm that focuses on leveraged loans, special situations, distressed debt, structured credit, direct lending and commercial real estate. Sound Point has approximately $32 billion in assets under management.
Assured, based in Bermuda, (NYSE: AGO) is a publicly traded holding company. As of March 31, 2021, CVC Credit had approximately $28.2 billion assets under management. Bank of America acted as financial advisor for the transaction.
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