Armen takes minority stake in Signal Capital Partners
European GP-stakes investor Armen has acquired a minority stake in asset management firm Signal Capital Partners.
The transaction marks the fourth investment by Armen GP Stakes Fund I, and the firm’s second deal in the private credit space.
Proceeds from the investment will be re-invested by Signal Capital’s senior management into the firm’s funds, including the third vintage of its special situations fund which is currently fundraising and has already begun to deploy capital.
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Signal Capital’s strategy, management and investment process will remain unchanged following this transaction and the founding partners retain majority ownership of the business.
Signal Capital was founded in 2015 and is focused on private credit solutions for European corporate and real estate mid-market assets.
The three co-founders have worked together for more than 20 years, building a team of 40 professionals with experience in sourcing and executing complex bilateral transactions across Europe.
The firm has €3.5bn (£2.9bn) of assets under management across its flagship special situation funds and other strategies.
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“As Signal Capital heads into its tenth year, we believe this partnership will support the continued success of our investment platform,” said Elad Shraga, chief investment officer Signal Capital.
“Signal Capital has built a world-class private asset management firm, delivering strong, sustainable returns to investors across market conditions,” said Catherine Haumesser, managing director, Armen, head of UK.
Macfarlanes served as legal advisers to Signal Capital. Kirkland & Ellis and FTI Consulting served as advisers to Armen.
