Man Group, a global alternative investment management firm, has acquired Bardin Hill, a U.S. private credit manager with about $3 billion in assets under management.
Based in New York City, Bardin Hill specializes in opportunistic and performing credit strategies. Its management team has an average of 22 years of industry experience and serves a global clientele, including pension funds and insurance companies.
CEO Jason Dillow will continue to lead Bardin Hill alongside its nine partners. The firm’s investment processes will remain unchanged, while Man Group’s global distribution will help attract new investors.
This acquisition enhances Man Group’s credit platform, which manages nearly $40 billion in assets and incorporates over 10 investment teams. By adding Bardin Hill’s strategies, Man Group aims to achieve consistent risk-adjusted returns and broaden its offerings in North America.
Advisors/support: Goldman Sachs is acting as lead financial adviser and Willkie Farr & Gallagher is acting as legal adviser to Man Group and/or its US affiliates. Houlihan Lokey is acting as lead financial adviser and HSF Kramer and Schulte Roth & Zabel are acting as legal advisers to Bardin Hill.
KEY QUOTES:
“This acquisition adds important new capabilities to our growing credit platform, further expanding and diversifying our offering to clients in line with the strategy we unveiled last year. Following our acquisition of Varagon in 2023, we are delighted to be able to offer clients another high quality, specialised team with excellent credentials, a rigorous and selective investment process, and experience through different market cycles. We see real potential for growth in both opportunistic and performing credit and we look forward to working with Jason and the team to capitalise on that.”
Steven Desmyter, President at Man Group
“We are all excited to join Man Group as part of its fast-growing US private credit platform. Man Group’s extensive distribution network, sophisticated institutional platform and cutting-edge technology will help us strengthen our opportunistic and performing credit strategies for existing Bardin Hill investors, while offering new investors access to Bardin Hill products. As volatility and dislocation within credit markets persist, we believe a tremendous opportunity exists to leverage our combined strengths to deploy capital and deliver compelling returns for clients.”
Jason Dillow, CEO of Bardin Hill
