CPPIB Completes $12B Deal for Antares Capital August 25, 2015 Share: Canada Pension Plan Investment Board has completed its previously announced $12 billion acquisition of GE Capital's U.S. sponsor lending portfolio, Antares Capital. CPPIB, with more than $400 billion of assets, is pushing further into private debt — where borrowers bypass traditional capital markets — to make up for dwindling yields elsewhere. CPPIB strikes $12B deal to buy Antares from GE Capital Chicago-based private equity lender will give pension fund a significant presence in U.S. lending sector By: Canadian Press The Rating Outlook is Stable. Antares is prepared to swoop in to buy assets from cash-strapped lenders when the cycle turns, its chief executive officer said Antares Capital will expand its product offering in subordinated, or junior debt under new ownership by the Canada Pension Plan Investment Board (CPPIB). Antares Capital, the market leader in U.S. sponsor-backed middle-market lending, which the pension fund acquired in 2015, is one example of the CPPIB’s approach to credit investing. The sale is expected Fitch continues to believe CPPIB's investment in Antares is long-term and strategic in nature, as evidenced by the size of the initial and on-going investments and its involvement in the management and design of Antares' capital structure. Antares Capital and Bain Capital Credit form a joint venture to provide first lien unitranche loans of up to $350 million in a single transaction. While at CPPIB, Mr. Jenkins founded CPPIB Credit Investments, which is a multi-strategy platform making direct principal credit investments. The acquisition of Antares Capital is CPPIB's largest deal to date. This transaction will further broaden and diversify Antares’ investor base,” said Ryan Selwood , Managing Director, Head of Direct Private Equity, CPPIB. Antares Capital will be run as a standalone business under its current leadership of David Brackett and John Martin, managing directors of the Chicago-based lender. He also led CPPIB’s acquisition and oversight of Antares Capital and the subsequent expansion in middle-market direct lending. positions CPPIB to compete across global capital markets, and to leverage its comparative advantages to benefit the CPP Fund. The Rating Outlook is Stable. CPPIB remains bullish on the U.S. middle-market, where it invests through Antares Capital, which has about US$24 billion in assets. “In CPPIB we will have a strategic owner who is committed to our business model, with unparalleled capital resources. The rating actions follow the Canada Pension Plan Investment Board's (CPPIB) announced sale on Nov. 16, 2016 of a 16% equity stake in Antares to a private fund managed by Northleaf Capital Partners (Northleaf). GE will sell Antares Capital to Canada Pension Plan Investment Board (CPPIB) as part of a $12 billion transaction. BY Fraser Tennant In a major transaction within the US lending sector, the Canada Pension Plan Investment Board (CPPIB) has agreed to acquire 100 percent of Antares Capital - the sponsor lending portfolio of GE Capital - in a deal worth in the region Antares Capital will operate as an independent business, and retain the name. It's buying an existing business, and GE Antares Capital's top managing partners are staying on. The rating actions follow the Canada Pension Plan Investment Board's (CPPIB) announced sale on Nov. 16, 2016 of a 16% equity stake in Antares to a private fund managed by Northleaf Capital Partners (Northleaf). Antares Capital Carol Ann Wharton 475-266-8053 carolann.wharton@antares.com Contacts Antares Capital Carol Ann Wharton 475-266-8053 carolann.wharton@antares.com Additionally, this partnership will allow Antares to better address the realities of today's leveraged lending environment. We apologize, but this video has failed to load. Following the firm’s acquisition by GE Capital in 2005, John became President and CEO of the newly branded GE Antares Capital and helped to direct the strategic vision of the business. CPPIB remains bullish on the U.S. middle-market, where it invests through Antares Capital, which has about $24 billion in assets. In addition, he presided over numerous acquisitions and divestitures, including the sale of the firm to CPPIB for $12 billion in August 2015. CPPIB expands its debt business in $12B deal to buy Antares lending unit of GE Capital Back to video CPPIB is better known for investments in real estate and infrastructure assets and sectors such as retail, but executives said Tuesday’s transaction is in the same category as CPPIB’s purchase last year of a reinsurance business, Wilton Re. Neither Antares nor any other member of the NAB Group guarantees the repayment of your capital, payment of income or the performance of your investment. The sale includes a $3 billion bank loan portfolio. Fitch continues to believe CPPIB's investment in Antares is long-term and strategic in nature, as evidenced by the size of the initial and on-going investments and its involvement in the management and design of Antares' capital structure. In the spirit of proactively equipping ourselves to manage evolving risks, the Board continuously assesses CPPIB’s risk oversight NAB does not provide a guarantee or assurance in respect of the obligations of Antares. 2016 Northleaf Capital Partners acquires a 16% stake in Antares from CPPIB, cementing a strategic relationship for Antares’ Asset Management initiative. CPPIB’s strong debt rating and well-capitalized balance sheet will allow Antares to offer “very competitive” pricing on … “Antares has outperformed expectations since our acquisition by combining its market-leading origination platform with CPPIB’s access to capital at scale. Fitch Ratings has affirmed the Long-Term Issuer Default Rating (IDR) and secured debt rating of Antares Holdings (US LP) at 'BBB'. Antares Capital. Disintermediation: CPPIB to Buy Antares Capital from GE Posted on 06/09/2015 Canada Pension Plan Investment Board (CPPIB) made it official today, through CPPIB Credit Investments Inc., of a signed agreement with GE Capital to acquire 100% of GE’s U.S. sponsor lending portfolio, Chicago-based Antares Capital, alongside Antares management for a total consideration of US$ 12 billion. CPPIB purchased Antares from GE Capital for $12 billion in August of 2015, significantly expanding its growing private debt businesses. Staff | August 24, 2015 Canada Pension Plan Investment Board (CPPIB) has completed the acquisition of Antares Capital, alongside Antares management, from GE Capital. Fitch Ratings has affirmed the Long-Term Issuer Default Rating (IDR) and secured debt rating of Antares Holdings (US LP) at 'BBB'. Canada Pension Plan Investment Board (CPPIB) said Nov. 16 that it sold a 16 percent stake in Antares Holdings to Northleaf Capital Partners (Northleaf).Financial terms weren’t announced. Antares was named 2015 Dealmakers of the Year and 2014 Lender of the Year by Mergers & Acquisitions. In August 2015, Antares was divested from GE Capital and sold to an affiliate of CPPIB Credit Investments Inc., a wholly owned subsidiary of Canada Pension Plan Investment Board. Try refreshing your browser, or tap here to see other videos from our team . Visit us at www.antares.com or follow Antares Capital on Twitter Antares has facilitated more than US$120 billion in financing over the past five years. And the subsequent expansion in middle-market direct lending or assurance in respect the... 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