Samsung Life takes minority stake in European private credit firm Hayfin

Samsung Life Insurance, South Korea’s largest life insurer, is buying a minority stake in London-based Hayfin Capital Management, deepening its push into global alternative assets.

Hayfin announced Wednesday that Samsung Life acquired the interest by purchasing shares from Arctos Partners, joining Mubadala Investment Company and AXA IM Prime as strategic minority shareholders. The deal broadens Hayfin’s institutional investor base and strengthens its presence in Asia.

"Like Mubadala and AXA IM Prime, Samsung Life will support Hayfin’s investment strategies as a minority shareholder," Hayfin said. "The transaction further strengthens Hayfin’s footprint in South Korea, reaffirming its commitment to clients in the region."

In a Bloomberg interview published Thursday, Tim Flynn, Hayfin’s co-founder and co-CEO, said Samsung Life was chosen for its reputation, cultural alignment and presence in markets of growing importance to the private credit manager, including South Korea.

“This doesn’t happen very often, but in this case, these were our top three choices,” Flynn told Bloomberg, referring to Samsung Life, Mubadala and AXA IM Prime.

For Hayfin, one of Europe’s largest private credit lenders with 34 billion euros ($40 billion) under management, the deal is a key step in its effort to increase management ownership through strategic partnerships co-structured with Arctos. Samsung Life and the other minority backers are expected to support Hayfin’s global expansion.

For Samsung Life, the deal marks another move to diversify its portfolio into overseas private markets. The insurer bought a 25 percent stake in London-based real estate manager Savills IM in 2021, followed by a $650 million joint investment in Blackstone with Samsung Fire & Marine Insurance in 2022. In 2023, it acquired a 20 percent stake in infrastructure investor Meridiam SAS, becoming the French firm’s second-largest shareholder.

Samsung Life CIO Park Joon-kyu said in Wednesday's announcement, "This strategic partnership will play a vital role in the growth and global expansion of Samsung Life’s asset management business," adding, "We look forward to supporting Hayfin’s ongoing growth alongside Arctos, Mubadala and AXA IM Prime.”

Flynn added, "Through establishing this partnership with Samsung, we look forward to deepening our commitment to the South Korean market, where we see investor demand for investment strategies continuing to grow.”

The deal is expected to close pending customary regulatory approvals.