Investcorp, a global provider and manager of alternative investment products, announced the finalization of its acquisition of a majority interest in CM Investment Partners LLC (CMIP), which acts as the investment adviser to Investcorp Credit Management BDC, Inc. (formerly known as CM Finance Inc). The transaction was first announced in June 2019. Investcorp Credit Management BDC, Inc., a specialty finance company that has elected to be regulated as a business development company (BDC), invests primarily in the debt of U.S. middle-market companies. Additional terms of the transaction were not disclosed.

Under the deal, CMIP will form part of Investcorp's Credit Management (ICM) business, further driving Investcorp's growth strategy with opportunities for growth in Private Credit, including the BDC space. The acquisition marks Investcorp's entry into middle market lending in the U.S., allowing Investcorp to reach a new market segment.

As part of the acquisition, Chairman and Chief Executive Officer of Investcorp Credit Management BDC, Inc. and Co-Chief Investment Officer of CMIP, Michael Mauer, will become Co-Head of Investcorp Credit Management U.S. alongside Jim Feeley, who currently serves as Co-Head of Investcorp Credit Management U.S. Both Jim Feeleyand Michael Mauer will report to Jeremy Ghose, Managing Director, Head of Investcorp Credit Management.

"We are excited to officially welcome Michael Mauer and the CMIP team to the ICM group as they bring years of experience navigating the middle-market lending space," said Jeremy Ghose, Managing Director, Head of Investcorp Credit Management. "This acquisition aligns with our broader strategy of providing a diverse and full platform across the alternative asset management spectrum, and marks our entry into the BDC segment."