New Flag Asset Management, the niche European high yield bond investment boutique, has secured a €6.7m ($6.4m) equity injection from Warburg Pincus, the global venture capital firm.
The deal, which values New Flag at just under €16m, buys Warburg Pincus a 42% stake in the firm. New Flag's management, led by co founders Pierre-Olivier Masmejean and Anton Simon, owns the remainder of the equity.