December 30, 2024
On December 20, Willkie client Third Point LLC, an alternative investment manager with $12 billion of assets, announced it entered into a definitive agreement to acquire AS Birch Grove LP, a diversified alternative credit fund manager. Following the completion of the transaction, Birch Grove will become a subsidiary of Third Point. The transaction is expected to close in the first quarter of 2025.
Third Point is an event-driven investor in equities, venture capital, and credit strategies including structured, performing, distressed, and private credit. The acquisition of Birch Grove is expected to supplement Third Point’s credit capabilities to better serve its investors across all asset classes.
Founded in 2013, Birch Grove has approximately $8 billion of assets under management in strategies including collateralized loan obligations (CLOs), opportunistic private credit solutions, multi-strategy credit, senior loans, and high-yield bonds.
The Willkie team was led by partners Russell Leaf and Thomas Sharkey and associate Christian Bonser.
