Macfarlanes has advised long-standing client Hayfin on its strategic partnerships with Mubadala Investment Company and AXA IM Prime.

As part of the agreement, each firm will acquire a minority interest in Hayfin and will leverage their capabilities and expertise to support Hayfin's investment strategies.

The transaction builds on the partnership between Hayfin and private investment firm Arctos Partners. In February 2025, Hayfin completed a management buyout (MBO) supported by Arctos via its Keystone strategy, which provides strategic partnerships to leading financial sponsors through bespoke capital and liquidity solutions. The transaction facilitated the Hayfin team becoming majority owners of the firm’s common equity. 

To enhance the MBO, Hayfin and Arctos jointly sought to distribute a portion of the firm’s institutional ownership to additional strategic minority shareholders. Mubadala and AXA IM Prime, alongside Arctos, will support the continued growth of Hayfin to further deliver on the firm’s long-term objectives of greater team ownership, alignment and incentivisation. 

Hayfin will remain focused on generating superior and consistent risk-adjusted returns for its clients. As with the Arctos-backed buyout, the transaction will lead to no changes in Hayfin’s strategy, investment process, leadership or day-to-day operations. Completion of the Mubadala transaction remains subject to customary regulatory approvals.

The Macfarlanes team was led by Corporate and M&A Partner Thomas French, who was assisted by Senior Associate Jonathan Hock and Associate Danny Talbot. 

Tax advice was provided by Partners Damien Crossley and Joe Robinson, assisted by Senior Associate Lawrence Parkin and Associate Jack Filer. Funds advice was provided by Partner Chris Daniel, assisted by Associates Joshua Oyedele and Amelia Le Coyte. Financial Services Regulatory advice was provided by Partner Michael Sholem, Senior Associate Gemma Edey and Associate Darius Tehrani-Vahid. Anti-trust and FDI advice was provided by Senior Associate Andrew Morrison and Associate Meghan Humphreys. Employment advice was provided by Partner Hayley Robinson, Senior Associates Kayleigh Leonie and Susie Galloway and Associate Amy Daubeney.