Pengana Capital Group has acquired Washington H. Soul Pattinson's (ASX:SOL) share in Pengana Credit, making the latter a wholly-owned subsidiary.

The acquisition follows the initial Global Private Credit joint venture established in April 2023.

Soul Patts remains a major stakeholder in Pengana Capital, with a $200 million investment in the Pengana Credit global private credit portfolio.

The acquisition simplifies Pengana Capital's accounting processes and strengthens its position in the credit market.