Alternative investment manager Investcorp announced its strategic capital group has taken a minority stake in middle-market special situations credit specialist Marblegate Asset Management.
The amount of the stake and the terms of the deal were not disclosed in a joint news release Thursday.
The stake provides Marblegate with long-term capital to enhance its overall capabilities including the enhancement of its investment platform, the news release said.
Investcorp will be a passive, non-voting partner and Marblegate's team, consisting of co-founders Paul Arrouet, managing partner, and Andrew Milgram, managing partner and chief investment officer, will remain intact. Marblegate currently has almost $3 billion in assets under management, a spokeswoman said in an email. She would not provide further information about the deal.
Investcorp had $37.6 billion in assets under management as of June 30.