On July 6, Willkie client Man Group plc announced that it entered into an agreement to acquire a controlling interest in Varagon Capital Partners, L.P., a leading U.S. middle market private credit manager.

Under the agreement, Man Group will pay $183 million in cash to selling interest holders including Aflac, Corebridge Financial and American International Group.

Varagon is a leader in the core U.S. middle market, having completed $24.5 billion of financings to over 300 companies and 138 sponsors.

Man Group is one of the world’s largest independent active investment management firms. Headquartered in London, Man Group manages approximately $148 billion on behalf of global clients.

The Willkie team was led by partners David Boston and Laura Acker and included partners Anne Choe, Geri Anne McEvoy, Christopher Peters and Justin Browder.