Firm Expands Credit Capabilities, Adding Premier CLO Franchise and Other Complementary Strategies

Third Point LLC, an alternative investment manager, today announced that it has completed the previously announced acquisition of AS Birch Grove LP (“Birch Grove”), a diversified alternative credit manager.

Birch Grove’s originated collateralized loan obligations (CLOs) account for over $5 billion of current assets under management. The platform also manages assets in other credit strategies including opportunistic private credit solutions, multi-strategy credit, senior loans, and high-yield bonds.

The acquisition supplements Third Point’s existing capabilities in structured, corporate, distressed, and private credit to better serve its investors across all asset classes. The transaction brings Third Point’s assets under management to $21 billion.

Jefferies LLC acted as sole financial advisor to Third Point and Willkie Farr & Gallagher provided legal counsel. Birch Grove’s financial advisor was GreensLedge Capital Markets LLC and Schulte Roth & Zabel LLP provided legal counsel.

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