British Columbia Investment Management Corporation (BCI) has sold its majority stake in alternative asset firm Hayfin Capital Management to Arctos Partners. Terms of the deal were not immediately available.
BCI will remain a “significant and strategic limited partner in certain key Hayfin fund strategies.”
BCI acquired its equity stake in 2017. Hayfin saw increaes assets under management from €8 billion at the time of investment to over €31 billion today. Hayfin targets European private credit markets. Hayfin’s product offering now includes direct lending, high-yield/syndicated loans, healthcare opportunities, maritime yield, private equity solutions and more.
BCI’s investment is expected to generate a significant return on invested capital and a successful outcome for its pension plan and insurance fund clients.
Jim Pittman, Executive Vice President & Global Head of Private Equity at BCI, said they were able to spot an emerging trend early on in the cycle and help scale Hayfin into the market leader it is today.
The transaction is subject to regulatory approvals and is expected to close in Q4 2024.
