GLAS to Acquire French Fiducie and Asset Management Firm, Pristine
GLAS SAS, (part of the GLAS Group) is excited to announce it has signed an agreement to acquire Pristine. This is GLAS’s first acquisition as it looks to deepen its European footprint and fast-track global expansion. The transaction is subject to regulatory approval and customary closing conditions.
Pristine
Pristine is a leading asset management and trust business established in 2016 in Paris and regulated by the Autorité des Marchés Financiers. Pristine provides fiducie and fund structuring and management services to both international and domestic institutions with the primary purpose of facilitating corporate financing in France. The firm has a deep and diversified track record in restructuring, structured finance and other ad hoc financing projects.
GLAS SAS
GLAS SAS launched its French operations in 2018 and has since built out a sizeable team, headed by Aymeric Mahe. GLAS SAS is regulated by the ACPR and provides a range of debt administration and loan agency services to domestic and international debt funds, corporates and bulge bracket banks across Europe. The firm is a market-leading provider in direct and syndicated lending, high yield, leveraged finance and capital market issuance. GLAS SAS has also been involved with numerous high-profile restructuring cases in France such as SMCP, Comexposium and Pierre & Vacances.
GLAS Founders, Mia Drennan and Brian Carne said:
“We are delighted to partner with Pristine as both firms offer complementary services that will be highly valued by our enlarged client base. Pristine’s capabilities in fiducie and management company services will be very relevant for our clients. We are excited to welcome the Pristine team into the GLAS family.”
Pristine Président, Renaud Baboin said:
“Pristine and GLAS share common values of entrepreneurship and excellence. Joining forces will allow us to best serve our combined client base. I congratulate Pristine’s talented and committed team led by Benjamin Raillard, who have created from zero a reference actor in fiducie and debt funds. The team will now be led by Benjamin Raillard with whom it has been a pleasure to partner.”
Benjamin Raillard added:
“We are thrilled to join the GLAS family. The cultural fit and the complementarities between the two firms are compelling. The GLAS global reach and scale with over €320 billion of assets under administration, along with Pristine’s structuring capabilities mean that we will be able to provide our clients, lenders, borrowers and any institutions faced with risk exposure, a second-to-none service.”
Looking forward
With this acquisition GLAS SAS strengthens its position in France. GLAS SAS and Pristine will constitute a team of over 40 people in Paris, with the differentiated proposition of operating, in their respective activities, under the regulation of both the ACPR and the AMF. Bringing together industry knowledge and complementary services will immediately benefit both firms’ existing clients. Looking forward, a larger, more experienced operation integrated with the highest level of consistency will mean that GLAS is well-positioned to manage larger and more complex transactions in the future.
About GLAS
GLAS was established in 2011 and is the premier independent, non-creditor, conflict-free provider of loan administration and indenture trustee services.
GLAS is a global company and is located in the USA, Europe and APAC, with headquarters in London. GLAS services in excess of €320bn of assets under administration on a daily basis. For more information, please contact media@glas.agency.
About Levine Leichtman Capital Partners
In 2022, Levine Leichtman Capital Partners (“LLCP”), a global private equity firm, invested in GLAS in partnership with its founders and management team.
Levine Leichtman Capital Partners, LLC is a middle-market private equity firm with a 39-year track record of investing across various targeted sectors, including Franchising & Multi-unit, Business Services, Education & Training and Engineered Products & Manufacturing. LLCP utilizes a differentiated Structured Private Equity investment strategy, combining debt and equity capital investments in portfolio companies. LLCP believes that by investing in a combination of debt and equity securities, it offers management teams growth capital in a highly tailored, flexible investment structure that can be a more attractive alternative than traditional private equity.
LLCP’s global team of dedicated investment professionals is led by nine partners who have worked at LLCP for an average of 19 years. Since inception, LLCP has managed approximately $13.3 billion of institutional capital across 15 investment funds and has invested in over 100 portfolio companies. LLCP currently manages $8.7 billion of assets and has offices in Los Angeles, New York, Chicago, Charlotte, Miami, London, Stockholm, The Hague and Frankfurt.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20230831832780/en/
Contact information
UK – Camarco
Julia Tilley:
+44 7586 722 849
Phoebe Pugh:
+44 7817 421 083
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Takeda Provides Update on EXKIVITY® (mobocertinib)2.10.2023 23:30:00 EEST | Press release
Takeda (TSE:4502/NYSE:TAK) today announced that, following discussions with the U.S. Food and Drug Administration (FDA), it will be working with the FDA towards a voluntary withdrawal of EXKIVITY ® (mobocertinib) in the U.S. for adult patients with epidermal growth factor receptor (EGFR) Exon20 insertion mutation-positive (insertion+) locally advanced or metastatic non-small cell lung cancer (NSCLC) whose disease has progressed on or after platinum-based chemotherapy. Takeda intends to similarly initiate voluntary withdrawal globally where EXKIVITY is approved and is working with regulators in other countries where it is currently available on next steps. This decision was based on the outcome of the Phase 3 EXCLAIM-2 confirmatory trial, which did not meet its primary endpoint and thus did not fulfill the confirmatory data requirements of the Accelerated Approval granted by the U.S. FDA nor the conditional marketing approvals granted in other countries. The EXCLAIM-2 trial was a Phase
Galderma announces progress with RelabotulinumtoxinA regulatory submissions2.10.2023 23:27:00 EEST | Press release
Galderma, the emerging pure-play dermatology category leader, announced today updates related to the regulatory progress of its pending Biologics License Application (“BLA”) for RelabotulinumtoxinA (QM-1114) to the U.S. Food and Drug Administration (“FDA”). The FDA has issued a Complete Response Letter (“CRL”) to Galderma related to its BLA for RelabotulinumtoxinA for the treatment of moderate-to-severe glabellar lines (frown lines) associated with corrugator and/or procerus muscle activity in adult patients as well as moderate-to-severe lateral canthal lines (crow’s feet) associated with orbicularis oculi muscle activity in adult patients. The CRL points out certain deficiencies isolated to items related to Chemistry, Manufacturing, and Controls (“CMC”) processes. All other aspects of the BLA, including safety and efficacy related parts, did not solicit deficiencies to be addressed. Galderma has already identified changes to the manufacturing process to address feedback. It will also
Visa Launches $100 million Generative AI Ventures Initiative2.10.2023 23:05:00 EEST | Press release
Visa (NYSE: V), a global leader in payments, today announced a new $100 million generative AI ventures initiative to invest in the next generation of companies focused on developing generative AI technologies and applications that will impact the future of commerce and payments. As a pioneer of AI use in payments since 1993, Visa considers this initiative an extension of Visa’s leadership in using AI to drive innovation in payments, create value for partners and clients, and enable and empower global commerce. Generative AI is an emerging subset of AI that is built on Large Language Models (LLMs) to develop artificial general intelligence capable of generating text, images or other content from large sets of existing data when given prompts. “While much of generative AI so far has been focused on tasks and content creation, this technology will soon not only reshape how we live and work, but it will also meaningfully change commerce in ways we need to understand,” said Jack Forestell,
MSCI Completes Acquisition of Burgiss2.10.2023 23:05:00 EEST | Press release
MSCI Inc. (NYSE: MSCI), a leading provider of mission-critical decision support tools and services for the global investment community, today announced that it has completed its acquisition of The Burgiss Group, LLC (“Burgiss”), a market-leading provider of data, analytics, and technology solutions for investors in private assets. The acquisition was originally announced on August 14, 2023. Henry Fernandez, Chairman and Chief Executive Officer, MSCI, said: “We are thrilled to complete this acquisition. By making Burgiss part of our integrated franchise, MSCI will dramatically expand and strengthen our solutions across client segments. In the process, we will help promote greater transparency for investors in private assets." About MSCI Inc. MSCI is a leading provider of critical decision support tools and services for the global investment community. With over 50 years of expertise in research, data, and technology, we power better investment decisions by enabling clients to understand
Carbios Unveils Major Innovation in Polyester Recycling With New Textile Preparation Line, in the Presence of Roland Lescure, French Minister of Industry2.10.2023 19:00:00 EEST | Press release
Regulatory News: This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20231002227008/en/ Roland Lescure, French Minister of Industry (left) accompanied by Emmanuel Ladent, CEO Carbios (far right) and representatives of Carbios partner brands (On, Salomon and Puma), inaugurates the textile preparation line for biorecycling. (Photo: Carbios) Carbios, (Euronext Growth Paris: ALCRB), a pioneer in the development and industrialization of biological technologies to reinvent the life cycle of plastic and textiles, today inaugurated its textile preparation line at its demonstration plant in Clermont-Ferrand, in the presence of Mr. Lescure, French Minister for Industry. To streamline the textile preparation phase, which is currently carried out by hand or on several lines, Carbios has developed a fully integrated and automated line that transforms textile waste from used garments or cutting scraps into raw material suitable for depolymerizat
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom