Debt Capital Markets

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Global Asset Managers May Want To Think About Buying Small Private Credit Managers – As Australia’s MA Financial Buys Blue Elephant Credit to Enter the US Market

Sydney-based asset manager MA Financial Group (AUD 8bn (USD 5.4bn) AUM)) has bought New York based credit asset manager Blue Elephant Capital Management (USD 184m AUM) for USD 5m.

Purposes for MA Financial: 1) offer US private credit assets to its Australian investor base, 2) distribute to US investors.

MA Financial and Blue Elephant have been co-investing in US specialty credit since 2021 through a loan funding partnership.

Blue Elephant Capital launched in 2013 and invests in whole loans and asset backed credit. It started by buying loans from (pre-securitization) direct lending platforms.