Levine Leichtman Capital Partners (LLCP) has completed the sale of London-based Global Loan Agency Services (GLAS) to Oakley Capital for an undisclosed amount, following full regulatory approval.
The deal marks the second exit from the private equity firm’s dedicated European fund, LLCP Europe II SCPp.
During the holding period, GLAS expanded its administration portfolio from approximately $120bn (£89.7bn) in 2021 to more than $920bn (£687bn).
The London-based firm provides administrative and trustee functions for syndicated credit facilities, direct debt packages and capital markets debt structures across Europe and international markets.
Deutsche Bank and Robert W. Baird acted as joint financial advisers, while Willkie Farr and Gallagher served as legal counsel on the deal.
Josh Kaufman, partner and head of LLCP Europe, said: “GLAS has been a flagship outcome for the LLCP European franchise with its strong performance. We are extremely grateful and proud to have supported Mia Drennan and her management team to build the global, market leading independent loan agency provider. We are excited to see their continued growth and future success with their new partner.”
Mia Drennan, founder and chief executive of GLAS, added: “Our entire team is grateful for LLCP’s close support and partnership, which has been pivotal in helping us through this phase of unprecedented growth. As we welcome Oakley Capital as our new partner, we’re excited to accelerate our global market leadership and take the business to the next level.”
