Nassau Financial Group and AIC announce merger

Written by Adam Cadle

10/01/2023

Nassau Financial Group and Angel Island Capital Management (AIC) have announced a merger.

AIC has become a subsidiary of Nassau’s asset management segment, Nassau Asset Management. The transaction is expected to significantly strengthen Nassau’s financial profile, adding an incremental £300m in capital and third-party fee earning AuM, in support of its growth plans.

AIC will complement Nassau’s existing asset management businesses, adding new credit capabilities to its suite of specialty finance strategies. Nassau’s asset management business currently oversees more than $18bn of assets as of 30 September 2022, of which $7.4bn are third-party assets and managed across the company’s investment strategies.

Sidley Austin LLP and Maynard Cooper & Gale, P.C. served as legal advisor and special counsel, respectively, to Nassau. Kirkland & Ellis LLP and Paul, Weiss, Rifkind, Wharton & Garrison LLP served as legal advisors to Golden Gate Capital.

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