LLCP Completes Sale of Global Loan Agency Services

LONDON--(BUSINESS WIRE)--LLCP announced today that it has completed the sale of its portfolio company Global Loan Agency Services (“GLAS” or the “Company”) to Oakley Capital, a European private investment firm. Financial terms of the transaction were not disclosed. The transaction has cleared all regulatory approvals.

Headquartered in London, GLAS is a leading independent provider of loan agency and trustee services to the global debt markets. The Company offers mission critical solutions to lenders and borrowers across syndicated loans, direct lending, and capital markets transactions, and has become a trusted partner for complex financing structures to clients across the globe.

During LLCP’s ownership, GLAS has delivered strong growth, with Assets under Administration increasing from ~$120 billion in 2021 to over $920 billion today. The Company’s rapid growth has been driven by a combination of geographic expansion, new service offerings, technology investment to drive efficiencies and enhance client experience, and strategic acquisitions.

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 CEO of GLAS, commented, “Our entire team is grateful for LLCP’s close support and partnership, which has been pivotal 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.”

The sale of GLAS is LLCP Europe II SCSp’s second exit.

Deutsche Bank AG and Robert W. Baird Limited served as joint financial advisors, and Willkie Farr & Gallagher (UK) LLP served as legal counsel to LLCP and GLAS in connection with the transaction.

About LLCP
LLCP is a global middle-market private equity firm with a 42-year track record of investing across various targeted sectors, including Business Services, Franchising & Multi-unit, Education & Training and Engineered Products. LLCP utilizes a differentiated Structured Private Equity investment strategy, combining debt and equity capital investments in portfolio companies. LLCP believes that by investing in a combination of debt and equity securities, it offers management teams growth capital in a highly tailored, flexible investment structure that can be a more attractive alternative than traditional private equity.

LLCP’s global team of dedicated investment professionals is led by 9 partners who have worked at LLCP for an average of 21 years. Since inception, LLCP and its affiliates have managed approximately $20.6 billion of capital across nearly 20 investment funds and invested in approximately 120 portfolio companies. LLCP currently manages $15.0 billion of assets and has offices in Los Angeles, New York, Chicago, Miami, London, Stockholm, Amsterdam and Frankfurt.