First Sentier, AlbaCore complete partnershipBY CHLOE WALKER | THURSDAY, 16 NOV 2023 12:36PM
Read more: AlbaCore Capital, First Sentier Investors Group, David Allen, Mark Steinberg
First Sentier Investors (First Sentier) has finalised its strategic partnership with European alternative credit specialist AlbaCore Capital (AlbaCore), broadening access to global private credit markets.
Headquartered in London, AlbaCore has capabilities spanning various parts of the corporate credit spectrum including private credit, CLOs, liquid credit, and structured credit in Europe.
Despite Sentier's majority investment in the partnership, which was first announced in March, AlbaCore will operate with investment autonomy with no change to its operations, teams, office locations, or brand.
Additionally, AlbaCore's executive team will maintain a minority ownership stake in the business and will continue to invest capital into funds alongside First Sentier Investors.
First Sentier chief executive Mark Steinberg said the partnership with AlbaCore aligns with the firm's corporate strategy to accelerate growth.
"Today is an exciting and important day for First Sentier Investors, our shareholder Mitsubishi UFJ Trust and Banking Corporation, and our new partner AlbaCore," he said.
"The alternative credit capabilities that AlbaCore brings to the table complements our existing investment capabilities and enables us to unlock new asset classes and structures for our clients."
Meanwhile, AlbaCore managing partner and chief investment officer David Allen said the firm is delighted to be officially part of the First Sentier Investors Group.
"We look forward to providing compelling opportunities within alternative credit to the broader First Sentier Investors business, to access new client markets and channels," Allen said.
"This strategic partnership is rooted in the deep alignment of people, values and culture at First Sentier Investors and AlbaCore, and we are excited to formally start working together."
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