In times of rapid market change, the temptation is often to react quickly by making sense of new information through the lens of daily price moves and hourly headlines. But when structural shifts are underway, a more productive approach can be to zoom out and evaluate what’s happening in the context of long-term trends and historical precedents. That’s especially true now that global trade policy takes centre stage once again.

Transaction delivers on Hayfin’s objectives for greater team ownership, alignment, and incentivisation

Hayfin today announced the completion of a management buyout of the business supported by Arctos Partners (“Arctos”), a private investment firm, acquiring British Columbia Investment Management Corporation’s (“BCI”) majority stake.

The partnership supports Hayfin’s long-term objectives of greater team ownership, alignment, and incentivisation, as well as generating superior and consistent risk-adjusted returns for clients. 

Arctos, via its Keystone strategy, which provides strategic partnership to leading financial sponsors, through bespoke growth capital and liquidity solutions, has underwritten 100 percent of the funding and will facilitate the Hayfin team becoming the majority owners of the common equity. 

Tim Flynn, Co-Founder and Chief Executive Officer at Hayfin, said: “We are excited to partner with Arctos as we continue to enhance our offerings for investors, borrowers and sponsors. With a shared commitment to investment approach and values, our firms are well positioned to collaborate and seize the vast opportunity set we see for the benefit of our investors. This marks the beginning of an exciting new chapter for Hayfin, as we continue to expand and evolve in a rapidly changing market.” 

Ian Charles, Co-Founder and Managing Partner at Arctos, said: “We are partnering with Hayfin, Europe’s premier private credit platform, at a pivotal moment in their growth trajectory. This transaction exemplifies Arctos Keystone’s mission to help great firms thrive and build the bridge from where they are to where they want to be. Together, our partnership positions Hayfin to accelerate its strategic growth ambitions, drive innovation across its platform, and bring more ownership and alignment to Hayfin’s leadership team. We couldn’t be more excited about the partnership.”

Founded in 2009, Hayfin specialises in providing critical debt, equity and hybrid capital solutions to meet a range of financing needs. The firm’s product offering spans direct lending, special opportunities, tactical solutions, high-yield/syndicated loans, healthcare opportunities, maritime yield and private equity solutions.

Hayfin is pleased to announce that it is serving as the co-lead investor through its Private Equity Solutions strategy, alongside funds managed by Morgan Stanley Private Equity Secondaries, in a €320 million Single-Asset Continuation Fund established by Impilo to support its continued ownership of Immedica.

Headquartered in Stockholm, Sweden, Immedica is a pharmaceutical company focused on the commericalization of specialty medicines for rare and orphan diseases.  Serving patients in more than 50 countries, Immedica is fully dedicated to helping those living with diseases which have a large unmet medical need. Established in 2018 by Impilo and an experienced management team, Immedica has quickly emerged as a leader in the European rare disease space, with revenues of c. EUR 100m and annual growth of more than 50%.

This Continuation Fund transaction follows the recently announced completion of Impilo’s partial sale of Immedica to KKR, who together with Impilo will jointly oversee Immedica through this next phase of growth.

Mirja Lehmler-Brown, Managing Director and Co-Head of Private Equity Solutions at Hayfin commented: “We are excited to continue our partnership with Impilo in supporting Immedica during this pivotal time for the business. The Continuation Fund will aim to support the company with funding for its continued  growth journey, furthering its mission to deliver essential therapies to patients with significant unmet medical needs.”