Sector developments and company hires

Gallatin CLO platform acquired
Aquarian Holdings has launched Aquarian Credit Partners (ACP), a syndicated high-yield credit investment management platform. Aquarian has partnered with Justin Driscoll, Bo Williams and the rest of the Gallatin Loan Management team to form ACP, which has assumed management of Gallatin’s existing CLOs, with more than US$800m of assets under management.

Gallatin has a track record of managing CLOs that spans several cycles and has produced industry-leading returns, having helped raise, structure and manage 15 CLOs representing roughly US$6bn of assets under management since 2000. Driscoll will become chairman of ACP, with Williams serving as head of ACP.

In other news…

CRE JV agreed
Cushman & Wakefield and Greystone have formed a strategic joint venture to deliver best-in-class advisory services and capital solutions to existing, joint and new clients of both firms in the US. Under the terms of the agreement, Cushman & Wakefield will make a strategic investment of US$500m to acquire a 40% stake in Greystone’s agency, FHA and servicing businesses.

Greystone intends to use the capital to create innovative product offerings which will position the company for future expansion. Meanwhile, the investment expands Cushman & Wakefield’s presence in the multifamily sector.

The transaction is anticipated to close in 4Q21, subject to customary closing conditions.