European alternative investment firm Sienna Investment Managers has entered into exclusive negotiations to acquire France-based private credit specialist Acofi.
The acquisition would give Sienna additional exposure to corporate, real estate and renewable energy private debt. It already has some exposure to corporate private credit via an investment in London-based asset manager Kartesia.
Sienna said the addition of Acofi continues its strategy to build a leader in European alternative asset management.
Pedro-Antonio Arias, chief executive officer of Sienna Investment Managers, said: “We are bringing together alternative asset managers with different specialisms – experts in their fields. This will see us integrating their offerings into a global alternative platform, offering exposure to these attractive asset classes in the form and structure investors prefer.”
Acofi’s CEO, Thibault de Saint Priest, said the deal will enable the firm to expand its private debt offering and improve its service quality to investors.
Acofi has €2.4 billion of assets under management and invests across corporate real estate, energy infrastructure, specialised financing of industrial companies and public sector investing.
Acofi most recently raised its Acofi Predirec EnR 2 fund, securing €150 million for the infrastructure-focused vehicle. In February 2018, Acofi revealed it had raised €700 million for real estate debt strategies.