THL Credit Acquires McDonnell Alternative Credit Unit

April 19, 2012

On April 18, 2012, THL Credit Advisors announced that it had agreed to acquire McDonnell Investment Management’s Alternative Credit Strategies group.

On April 18, 2012, Boston based-THL Credit Advisors LLC announced that it had agreed to acquire Chicago-based McDonnell Investment Management, LLC’s Alternative Credit Strategies group.  The Alternative Credit Strategies group is an alternative senior debt credit manager which manages approximately $2.5 billion in broadly syndicated bank loan and high-yield bond assets across collateralized debt obligations, separate accounts, and commingled funds.  THL Credit Advisors is an affiliate of Thomas H. Lee Partners, L.P. and the external investment manager of publicly listed THL Credit, Inc.  After the transaction, the Alternative Credit Strategies group will join the newly formed THL Credit Senior Loan Strategies, along with THL Credit Advisor’s capital markets business.  Along with the newly formed unit, THL Credit Advisors and THL Credit, Inc. will collectively manage approximately $3 billion of assets following the closing of the transaction.  The closing of the transaction is subject to customary closing conditions

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Hedge Fund M&A, Investment Manager M&A, Transactions