Slaughter and May is advising HPS Investment Partners (“HPS”), a leading global investment firm with approximately US$68 billion of assets under management as of January 2021, on its proposed acquisition of Barclays’ asset finance business (the “Business”) from Barclays Principal Investments Limited. The transaction will be funded and managed by HPS’s European Asset Value Fund, a fund that acquires financial asset platforms and portfolios.
The Business has approximately 1,500 customers and total assets of £1.15 billion. Following completion of the transaction, the Business will be absorbed into PEAC (Pan European Asset Co) Finance, which is the same brand name that HPS’s European Asset Value Fund uses for its other European portfolio leasing businesses.