Sankaty Advisors Acquires J.P. Morgan's Global Special Opportunities Group Investment Portfolio
July 28 2014 - 6:00AM
Business Wire
Sankaty Advisors, LLC, the independently managed credit
affiliate of Bain Capital, today announced the signing of a
definitive agreement to acquire a portfolio of loans and other
securities from J.P. Morgan’s Global Special Opportunities Group.
The portfolio contains mezzanine loans in North America and Europe,
as well as loans and related special situations investments in
Australia and across Asia, with an aggregate value of approximately
$1.3 billion.
This acquisition follows Sankaty Advisors' other recent
purchases of loan portfolios from Irish Bank Resolution Capital,
Lloyds Banking Group and CapitalSource.
“This is another attractive addition to our platform as we
continue to identify portfolios around the world where we can be a
provider of patient capital and a helpful, value-added lender to
and investor in high quality companies,” said Jonathan S. Lavine,
Managing Partner and Chief Investment Officer of Sankaty Advisors.
“We are continuing to see significant opportunities to invest by
leveraging the skills of our global credit team to diligence
portfolios by geography, by industry and by borrower resulting in a
diverse array of investment opportunities.”
“We are confident Sankaty Advisors will be a good steward of
these assets as Sankaty has a successful track record of acquiring
global investment portfolios and acting as partners to borrowers,”
said Chris Nicholas, head of J.P. Morgan’s Global Special
Opportunities Group. “Their global reach, scale, reputation and
track record were important attributes as we evaluated potential
buyers.”
The transaction, which is expected to close by the end of 2014,
is subject to borrower and regulatory approvals. Kirkland &
Ellis, LLP served as legal counsel to Sankaty Advisors. J.P. Morgan
advised on the sale and Davis Polk & Wardwell, LLP served as
legal counsel to JPMorgan Chase.
This transaction is not expected to have a material impact on
JPMorgan Chase’s earnings.
About Sankaty Advisors, LLC
Sankaty Advisors is the independently-managed credit affiliate
of Bain Capital, LLC and one of the world’s leading private
managers of fixed income and credit instruments. Founded in 1998
and now managing more than $24 billion of assets, Sankaty has an
integrated team of 200 people that enables the firm to invest up
and down the capital structure, and to conduct rigorous,
independent analysis of thousands of corporate issuers. Sankaty
invests in a wide variety of securities and investments globally,
including leveraged loans, high-yield bonds, distressed and
stressed debt, mezzanine debt, structured products and equities. An
employee-owned private partnership, the firm has offices in Boston,
New York, Chicago, London, Luxembourg and Melbourne. For more
information, please visit www.sankaty.com.
About JPMorgan Chase
JPMorgan Chase & Co. (NYSE:JPM) is a leading global
financial services firm with assets of $2.5 trillion and operations
worldwide. The Firm is a leader in investment banking, financial
services for consumers and small businesses, commercial banking,
financial transaction processing, and asset management. A component
of the Dow Jones Industrial Average, JPMorgan Chase & Co.
serves millions of consumers in the United States and many of the
world's most prominent corporate, institutional and government
clients under its J.P. Morgan and Chase brands. Information about
JPMorgan Chase & Co. is available at www.jpmorganchase.com.
Media:For Sankaty AdvisorsBain CapitalErnesto
Anguilla, +1-617-516-2660eanguilla@baincapital.comorStanton Public
Relations & MarketingAlex Stanton,
+1-212-780-0701astanton@stantonprm.comorFor J.P. MorganJ.P.
MorganBrian Marchiony,
+1-212-270-7433brian.j.marchiony@jpmorgan.com
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