New Holland acquires majority stake in Foundation Credit, infrastructure debt firm

New Holland acquired a majority stake in Foundation Credit, a firm that manages municipal investments for institutional investors. The firm, which specializes in municipal credit and infrastructure debt management, has $2.2 billion in assets under management. The founder, Hector Negroni, will continue to lead the firm and retain control over its daily operations.

The partnership provides Foundation Credit with additional resources to scale up, addressing the need for alternative ways to finance infrastructure projects. New Holland, which manages $8.3 billion in assets for institutional clients, will support Foundation Credit's municipal hedge fund and infrastructure debt strategies.