The private equity consortium behind the Hargreaves Lansdown take-private deal has secured additional lenders to fund the transaction.
Harp Bidco, a newly formed entity created by the consortium to carry out the deal, said in a stock exchange notice today (20 September) that four firms had agreed to provide a £1.75bn senior term loan on 2 August. These included private credit giants HPS Investment Partners, KKR Credit Advisors, Apollo Global Management, and Blackstone Credit. Hargreaves Lansdown agrees to £5.4bn PE takeover offer The loan would help fund the consortium's £5.4bn takeover offer for the investment platform, which was accepted by the board on 9 August and is pending approval by shareholders. On Th...
To continue reading this article...
Join Investment Week for free
Signup and gain exclusive members-only insights - all free of charge!
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes
