York Capital Management (York), a global private investment firm, and Kennedy Lewis Investment Management (Kennedy Lewis), an opportunistic credit manager, have formed a strategic partnership to form a new entity to be called Generate Advisors.
Under the partnership agreement, York’s approximately USD4 billion Collateral Loan Obligation (CLO) business and team, led by Rizwan Akhter, will transition to Generate Advisors and continue to manage York’s current CLO portfolio as well as any future CLOs issued by Generate Advisors. Kennedy Lewis will be investing in Generate Advisors and has committed at least USD200 million of capital to be invested in the equity of Generate Advisors’ future CLOs.
“We are pleased to partner with Kennedy Lewis to continue to grow our strong CLO franchise,” says Jamie Dinan, Founder and CEO of York. “Over the past six years, York has demonstrated its ability to scale our issuance and meet the needs of investors. We are confident that with Kennedy Lewis’ strategic partnership and equity commitment, we will further our ability to execute successful transactions in today’s market environment and for years to come.”
Source: Private Equity Wire
