CPPIB Formally Agrees to Acquire Antares Capital for $12B
June 10, 2015
As previously reported, the Canada Pension Plan Investment Board has formally signed an agreement with GE Capital to acquire its U.S. sponsor lending portfolio, Antares Capital, for $12 billion. The lending unit, which holds around $16 billion in loans on its balance sheet, also includes joint ventures with Ares Management and Lone Star Funds, which are now rumored to begin talks with CPPIB to gauge if the joint venture relationships can and will remain in place. Once the deal closes, expected in 3Q, Antares will operate as a standalone, independent business governed by its own Board of Directors.