CVC explores bid for US private lender Golub Capital, FT reports

(Reuters) - (This April 11 story has been corrected to say that Golub was founded in 1994, not 1991 in paragraph 3, to remove an unrelated stock symbol in paragraph 1 and to drop paragraph 4 to remove the reference to shares) European private equity firm CVC is exploring a deal for $75 billion private credit lender Golub Capital, the Financial Times reported on Friday, citing several people familiar with the situation.

The private credit sector, which involves institutional lending to companies outside of traditional banking channels, has grown rapidly in recent years, as stricter regulations have increased the cost for traditional lenders to finance riskier loans.

Founded in 1994, Golub manages over $75 billion in assets and employs more than 1,000 professionals, according to its website.

It remains uncertain whether ongoing discussions will result in a deal, as Golub Capital is not considering a sale, the report added, citing a person close to the matter.

CVC and Golub did not immediately respond to Reuters’ requests for comment.

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