Fried Frank advised BlueBay Asset Management (“BlueBay”) in connection with an agreement that the BlueBay Private Debt business will become an independent entity. BlueBay's Private Debt business was established in 2011 and has grown into a market leading €13 billion AUM largely stand-alone business within BlueBay.
The new stand-alone business will be owned and managed by the existing Private Debt management team and will also receive investment from private equity manager Dyal Capital Partners (“Dyal”). The Private Debt management team will hold the majority of the equity, with Dyal holding a minority, passive equity interest. The transaction is expected to complete in Q3 2019, subject to regulatory and other approvals. BlueBay is a global specialist fixed income manager investing in traditional and alternative fixed income strategies for institutional and private clients.
The Fried Frank team was led by corporate partners Kate Downey and Simon Saitowitz; and included corporate partners David Christmas and Gregg Beechey; and corporate associates Jamie Thomson, Alistair Renton, Christian Roberts and Imran Sharih.