Oaktree, Anchorage to steer Bavaria Yachtbau

The lenders will anchor the German yacht maker with a €55m investment and write down most of its debt. Bain bought Bavaria for €1.3bn in July 2007.

Bain Capital has lost control of its first yacht investment.

Oaktree Capital Management and Anchorage Capital will now pilot Bavaria Yachtbau, the yacht maker purchased by Bain in July 2007.

The two special situations-focused private equity firms have been lenders for more than a year to the German company, having purchased a total of roughly €900 million in debt related to Bain’s LBO.

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