CVC announces the closing of the formation of CVC Credit Partners

On 4th January 2012 CVC Capital Partners SICAV-FIS S.A ("CVC"), a leading private asset management and investment advisory firm, and Resource America Inc., a specialized asset management company, signed an agreement to combine CVC Cordatus Group and Apidos Capital Management and form CVC Credit Partners. The transaction has now completed.

Led by a team comprising Marc Boughton (CEO), Stephen Hickey (Chief Risk Officer) and Chairman Jonathan Cohen, the business comprises $7.7bn of credit assets across 23 vehicles in the US and Europe. Gretchen Bergstresser and Jonathan Bowers will be Senior Portfolio Managers alongside Group COO, Chris Allen.

Marc Boughton commented: "both teams appreciate the significant benefits of being able to offer sponsors and companies access to a broader range of debt capital to support their businesses and initiatives".

Jonathan Cohen comments: "we are delighted to be partnering with CVC whose local knowledge and extensive contacts underpin a 30-year proven track record of investment success. The group will offer Investors access to a broader range of investment opportunities within the US and European credit markets using our combined investment expertise, strong origination capabilities and robust credit processes."