TRANSACTION SUMMARY

On 2 February 2017, Hayfin Capital Management LLP (“Hayfin” or “the firm”), a leading European credit platform with €8.2bn in assets under management, announced that British Columbia Investment Management Corporation (“bcIMC”) had agreed to acquire a majority shareholding in the firm from the existing consortium of institutional investors. The transaction will support Hayfin’s long-term growth plans and simplify its ownership structure, with Hayfin’s management and employees remaining substantive shareholders alongside bcIMC.

bcIMC, a Canadian investment manager which manages approximately C$122bn in assets, is acquiring 100% of the shares owned by Hayfin’s current institutional investors – TowerBrook Capital Partners, PSP Investments (“PSP”), the Ontario Municipal Employees Retirement System (“OMERS”), and The Future Fund. bcIMC is also committing significant capital to the funds that Hayfin currently manages and will be supportive of the future development of the business. Hayfin’s principal focus will remain managing assets for third parties; the day-to-day independence of the Hayfin team over operations, investments, and personnel will be unaffected by the change in ownership.

The financial terms of the deal are undisclosed. Completion of the transaction is subject to regulatory approval.

HAYFIN

Hayfin is a leading European credit platform with €8.2bn in AUM. The firm was established in 2009 with backing from TowerBrook Capital Partners, OMERS, PSP, and the Future Fund and is headed by former Goldman Sachs partner Tim Flynn. Hayfin provides lending solutions to European medium-sized companies as well as operating complementary business lines across corporate, maritime and alternative credit.

BCIMC

bcIMC is the fourth largest fund manager in Canada with approximately C$122bn managed on behalf of 34 institutional clients including 11 public sector pension plans.

ROLE

SHP acted as financial adviser to Hayfin.