Man Group PLC (LSE:EMG) is open to making acquisitions and hiring new teams to build out its private credit offerings as the asset class continues to gain appeal among investors and money managers, according to a report on Bloomberg.
Bloomberg said the hedge fund plans to diversify and expand into different credit strategies in coming years to meet rising demand from clients for exposure to private assets, as well as to capitalize on the shift in corporate borrowing habits as banks tighten lending,
In an interview, Eric Burl, Man Group’s head of discretionary, said: “We’re open to acquiring businesses, adding teams or individuals.”
“If we think it’s something where we can add value and it’s relevant to clients, game on.”
Man Group signalled a major push into the credit space earlier this year with the purchase of a controlling stake in private credit manager, Varagon Capital Partners.
Shares in Man Group rose 0.1% to 232p.