Sound Point buys CVC’s $1bn direct lending unit

Sound Point Capital Management acquired the $1 billion U.S. direct lending platform of CVC Credit, which includes the hire of a team of nine investment professionals.

Terms of the transaction were not disclosed. In total, CVC Credit’s U.S. direct lending platform being absorbed by Sound Point has deployed more than $1.7 billion across 88 transactions. The senior team has completed more than $18 billion in loan commitments and the core senior team members have worked together or known each other for over 20 years.

The nine-person CVC team is led . . .

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