Clifford Chance (CC) has advised CVC Capital Partners on a joint venture with Resource America that creates a global credit management business with more than $7.5bn (£4.9bn) in assets under management across 21 vehicles in the US and Europe.
CC advised CVC on the mandate which saw the buyout house acquire Resource America’s credit unit Apidos Capital management for $25m (£16m) in cash as well as handing Resource America a 33% stake in the new venture CVC Credit Partners, which combines Apidos with CVC’s existing debt management business Cordatus.
