Initially Invested in 2017, ahead of private credit expansion and supported the growth of the platform
Victoria (BC), London & New York, Feb. 10, 2025 (GLOBE NEWSWIRE) -- British Columbia Investment Management Corporation ("BCI"), one of Canada's largest institutional investors, today announced it has completed the sale of its majority stake in Hayfin Capital Management ("Hayfin") to Arctos Partners ("Arctos"), a private investment firm. BCI remains a significant and strategic limited partner in certain key Hayfin fund strategies. Hayfin's management team was instrumental in leading the sales process to select Arctos as the preferred partner for the next stage of growth.
"Seven years ago, we identified a unique opportunity early in the cycle to invest in the secular tailwinds behind private credit and back Hayfin's growth by supporting the expansion of its platform capabilities and strategies," said Jim Pittman, Executive Vice President & Global Head of Private Equity at BCI. "We are pleased with the impact our strategic efforts have had in building Hayfin into a preeminent European alternative asset management firm, increasing its assets under management from €8 billion at the time of BCI's initial investment to over €33 billion today, leading to this successful investment outcome for BCI's clients."
"Through our Principal Credit Fund, BCI has provided strong support for Hayfin's direct lending and tactical credit strategies, helping these programs to meaningfully scale. We continue to view Hayfin as a core private credit strategic partner in Europe," said Daniel Garant, Executive Vice President & Global Head of Public Markets at BCI.
BCI acquired a majority stake in Hayfin in 2017, after spotting an emerging trend for long-term growth in the European market for private credit asset management, driven by regulatory and structural demand trends. Through the course of its ownership, BCI worked with Hayfin management to grow the investment teams, build its partner solutions function and enhance platform capabilities to ensure stable asset management and superior risk-adjusted performance. BCI became a key strategic partner in Hayfin's core private credit franchise and helped enable the platform's expansion into further complementary strategies.
The private credit market has experienced a critical period of significant growth over the past seven years and the recent industry consolidation trends presented a compelling opportunity for BCI to sell its majority stake, allowing the realization of investment returns for its clients.
On July 30, 2024, BCI announced it entered into a definitive agreement to sell its majority stake in Hayfin to Arctos. All regulatory approvals have been secured, and the transaction was completed on February 7, 2025.
BCI Private Equity has a long-established presence in Europe through notable direct investments in multiple industry-leading companies such as BMS Group, ZEDRA, Refresco, Compre Group and Waterlogic, where it brings its capital and operational expertise to bear. With a growing portfolio of companies and fund partners in Europe, BCI intends to continue expanding the footprint of its private equity program in this critical region. Our experience in Hayfin and other European-based companies positions us well for future growth and significant investment opportunities in the region.
About BCI
British Columbia Investment Management Corporation (BCI) is amongst the largest institutional investors in Canada, with C$250.4 billion in gross assets under management as of March 31, 2024. Based in Victoria, British Columbia, with offices in Vancouver, New York, and London, U.K., BCI manages a portfolio of diversified public and private market investments on behalf of its British Columbia pension fund and institutional clients.
BCI's private equity program actively manages a C$31 billion global portfolio of privately held companies and funds with the potential for long-term growth and value creation. Leveraging our sector-focused teams in business services, consumer, financial services, healthcare, industrials, technology, media and telecommunications, we work with strategic private equity partners to source and manage direct and co-sponsor/co-investment opportunities.
