Various credit score supervisor Kennedy Lewis is exploring a sale together with different strategic choices, in response to information stories.
Bloomberg has reported that Kennedy Lewis is working with an adviser to solicit curiosity from potential consumers. The agency holds belongings beneath administration of roughly $14bn (£11.27bn), and is believed to be valued at greater than $800m in an outright transaction.
Earlier this month, the asset supervisor launched its third opportunistic credit score fund with $4.1bn, after setting an preliminary goal of $3bn. It invests in scalable companies in sectors together with life sciences, energy, media, and homebuilder finance.
The New York-based agency was based by David Chene and Darren Richman in 2017, and is led by Chene, Richman and co-managing companion Doug Logigian.
Kennedy Lewis manages capital by way of numerous funds, a enterprise improvement firm and a collateralized mortgage obligations enterprise often called Generate Advisors, which was shaped by way of a partnership with York Capital Administration.
The non-public credit score house has seen loads of curiosity from main funding homes in current months. A brand new report from the Various Credit score Council discovered that personal credit score managers deployed an estimated $333bn throughout 2022 – a major improve from the estimated $200bn that was deployed in 2021.
In the meantime, a senior government at Apollo World Administration has estimated that the non-public credit score market may very well be value as much as $40trn.
Pitchbook calculated that the worldwide non-public credit score sector was value $1.75trn by the tip of 2022.
Learn extra: Funding giants deepen their affect within the non-public debt house
