Levine Leichtman Capital Partners (LLCP) said it has agreed to sell its portfolio company Global Loan Agency Services (GLAS) to Oakley Capital, a European private investment firm, marking the second exit from LLCP Europe II SCSp.
GLAS, which is headquartered in London, provides independent loan agency and trustee services to participants in the global debt markets. The company supports lenders and borrowers across syndicated loans, direct lending, and capital markets transactions, offering what it describes as mission-critical solutions for complex financing structures.
LLCP highlighted significant expansion during its ownership period, with GLAS’ assets under administration rising from approximately $120 billion in 2021 to more than $750 billion today. The firm attributed that growth to a mix of geographic expansion, the rollout of additional services, technology investment aimed at improving efficiency and client experience, and strategic acquisitions.
Josh Kaufman, a partner and head of LLCP Europe, described GLAS as a “flagship outcome” for the firm’s European franchise and credited founder and CEO Mia Drennan and her team for building a global independent loan agency platform.
Drennan said LLCP’s support was pivotal during a period of rapid growth and that GLAS plans to accelerate its market position with Oakley as its new partner.
Financial terms were not disclosed. The transaction’s completion is subject to regulatory approvals.
Support: Deutsche Bank AG and Robert W. Baird Limited served as joint financial advisers on the transaction, while Willkie Farr & Gallagher (UK) LLP acted as legal counsel to LLCP and GLAS.
KEY QUOTES:
“GLAS has been a flagship outcome for the LLCP European franchise with its strong performance. We are extremely grateful and proud to have supported Mia Drennan and her management team to build the global, market leading independent loan agency provider. We are excited to see their continued growth and future success with their new partner.”
Josh Kaufman, Partner and Head of LLCP Europe
“Our entire team is grateful for LLCP’s close support and partnership, which has been pivotal helping us through this phase of unprecedented growth. As we welcome Oakley Capital as our new partner, we’re excited to accelerate our global market leadership and take the business to the next level.”
Mia Drennan, Founder and CEO of GLAS
