General Atlantic, a growth equity firm, has agreed to acquire Iron Park Capital Partners.
Terms of the deal were not disclosed, said a news release Wednesday.
After the transaction closes, Iron Park "will be integrated into the firm as General Atlantic Credit. The firm as a whole will continue to be General Atlantic," a spokeswoman for General Atlantic said in an email.
The deal is expected to close in the first quarter of 2023, subject to, among other things, regulatory approvals.
GA Credit will "expand and enhance the firm's ability to provide creative capital solutions to high-quality companies in need of a strategic partner at multiple stages of corporate and economic life cycles," the news release added.
Tripp Smith, CEO and founder of Iron Park, will become CEO of GA Credit, the release said.
William E. Ford will continue as chairman and CEO of General Atlantic, the spokeswoman noted.
Iron Park's current investment offerings include funds that invest in both public and private credit markets, including Atlantic Park, a joint venture formed with General Atlantic in 2020.
Atlantic Park provides "structured equity and debt financing to businesses around the world that require capital to support M&A, refinancing, recapitalization and growth initiatives," the release said. Thus far, the joint venture has committed more than $2.2 billion to 13 companies.
General Atlantic had more than $73 billion in assets under management as of Sept. 30.
Iron Park had about $4 billion in investible assets as of June.
