Oakley takes majority stake in GLAS

(Sharecast News) - Mid-market private equity investor Oakley Capital on Monday said it had bought a majority stake in GLAS, which provides loan administration and bond trustee services. The company did not divulge the size of the stake or a valuation on GLASt, but said its indirect contribution would be up to £55m.

Oakley is investing alongside Canadian pension investor La Caisse which has acquired a minority position, as well as Levine Leichtman Capital Partners, which will retain a small holding in the business.

Founded by Mia Drennan and Brian Carne in 2011, London-based GLAS offers administration and trustee services for the credit markets, including private credit and leveraged finance.

Drennan will continue as CEO. Oakley said it would support GLAS to accelerate growth through international expansion, M&A and the continued development of the company's technology and AI offering.

Operating with more than 450 employees across 16 offices in Europe, America, APAC and Middle East, GLAS services a portfolio of $750bn.

Reporting by Frank Prenesti for Sharecast.com