American Securities to Have its Credit Business Merge with Birch Grove Capital
Posted on 07/01/2021
Private equity firm American Securities LLC agreed to have its opportunistic credit business, Ascribe Capital, to be merged with credit asset manager Birch Grove Capital LP to form AS Birch Grove. AS Birch Grove will manage about US$ 5 billion in assets in an opportunistic hedge fund, private credit vehicles, and par credit and collateralized loan obligation vehicles.
“Birch Grove Capital is a proven credit investor, and an excellent partner for the Ascribe funds and our firm more broadly,” Michael G. Fisch, founder and CEO of American Securities, in a news release. “Robust credit investment capabilities alongside our flagship buyout funds make us a stronger, more knowledgeable, and more agile investor across the board.”
Jonathan Berger, CEO and chief investment officer of BGC, added: “We are thrilled to partner with American Securities to enhance and grow our combined platform. Together, we will have an improved ability to leverage company, industry, along with market insights and debt capital markets execution across our investment mandates.”