Man Group has completed its acquisition of US credit manager Varagon Capital, following its announcement of the deal earlier this year.
In a stock exchange notice today (7 September), the firm said it had confirmed "that all necessary regulatory approvals have now been received".
The deal, which was announced on 6 July, saw the alternatives asset manager agree to pay $183m in cash to Aflac, Corebridge Financial, American International Group and former members of Varagon's management team.
Varagon CEO Walter Owens will continue to manage the business under the new name ‘Man Varagon', with the group's investment committee, investment team and investment processes remaining unchanged.
When the deal was announced, Robyn Grew, CEO of Man Group, said it was "indicative of our commitment to diversifying our client offering and our strategic expansion ambitions in the US".
"Our extensive distribution network and operational expertise will support Varagon with its continued growth and delivery for clients," she added.
