THL Credit Advisors CEO and CIO James K Hunt said the expansion of THL Credit Advisors into syndicated high yielding assets, including syndicated bank loans, is a natural extension of our direct lending middle market junior capital platform.
"The combination will allow us to leverage the industry knowledge and expertise of the McDonnell Alternative Credit Strategies team with our existing middle market investing teams, creating a more scaled and integrated business to serve the needs of our clients," Hunt said.
The Alternative Credit Strategies group, which manages approximately $2.5bn in assets, joined McDonnell in 2004.
Its current 22 investment professionals and employees will be absorbed by THL Credit Advisors, upon completion of the transition, said the acquirer.
McDonnell, which manages $15bn in assets, will continue to operate its core business of managing primarily investment grade taxable and municipal bond portfolios for insurance companies, pension funds, foundations & endowments, health care entities, corporations and high net worth individuals.
