GLAS welcomes Oakley Capital and La Caisse as strategic investors
London (5th JANUARY, 2025)
GLAS enters 2026 with two new strategic partners: Oakley Capital, a leading European mid-market private equity firm, and La Caisse, one of Canada’s largest institutional investors (formerly CDPQ). This partnership sets the stage for GLAS’ next phase of growth.
Under the agreement, Oakley has acquired a majority stake in GLAS from Levine Leichtman Capital Partners (LLCP). La Caisse takes a minority position, and LLCP retains a small stake. Together, the investors will help GLAS accelerate international expansion, pursue M&A, and continue enhancing its technology and AI capabilities.
Founded with just £6,000 of capital in late 2011 by Mia Drennan and Brian Carne, GLAS is a global provider of loan administration and bond trustee services. With an international platform spanning the UK, Europe, the Americas, APAC, and the Middle East, GLAS manages over $750 billion in assets.
The private credit market it serves exceeds $2.4 trillion and is expected to surpass $4.5 trillion by 2030.
“We wanted a like-minded partner with an entrepreneurial approach and a reputation for working successfully with founders and management teams,” said GLAS CEO and Founder Mia Drennan. “Oakley’s track record in supporting global market leaders, alongside La Caisse’s expertise, will unlock exciting opportunities for GLAS to become a multi-billion-pound platform in the future.”
Peter Dubens, Oakley Capital Co-Founder and Managing Partner, added: “Mia has successfully built a global leader in the market for debt administration, a market with strong and attractive growth characteristics. We are pleased to be partnering with such an accomplished entrepreneur and look forward to supporting the next phase of GLAS’ growth.”
Martin Longchamps, La Caisse Executive Vice-President and Head of Private Equity and Private Credit, commented: “GLAS sits at the heart of the fast-growing private credit ecosystem. Its global presence, technology leadership, and deeply embedded relationships with leading clients make it an asset well positioned for continued growth. We look forward to partnering with Oakley and GLAS to support the platform’s next successful chapter.”
GLAS will continue to be led by Mia Drennan, alongside the existing executive team, including Ethan Levner, Chief Financial Officer, and Joanne Brooks, Chief Commercial Officer.
More information can be found on Oakley Capital’s announcement here.
Oakley Capital’s full press release can be found here.
La Caisse’s announcement can be found here.
Levine Leichtman Capital Partners’ full announcement can be found here.
About GLAS
GLAS was established in 2011 as an independent provider of institutional debt administration services. The company was originally created to provide the market a willing participant in complex loan restructuring transactions where many large institutions are reluctant to take swift and cooperative action. It offers a wide range of administration services developed specifically for the debt market.
GLAS is recognised as the premier independent, non-creditor, conflict-free provider of loan agency and bond trustee services, with excess of $700bn of assets under administration on a daily basis. For more information, contact media@glas.agency.
