UK-based investment manager M&G Investments has announced the acquisition of a majority stake in private credit firm P Capital Partners (PCP).
The acquisition sees M&G taking a 70% stake in Stockholm-based PCP, which employs 45 people. Since its launch, PCP has raised around €7bn ($7.26bn).
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PCP’s management will continue to hold the remaining equity stake, with the management team and investment strategies remaining unchanged following the deal.
The transaction will integrate PCP into M&G’s £73bn ($90.8bn) private markets business.
M&G Investments CEO Joseph Pinto said: “This acquisition of a majority stake in P Capital Partners is in line with our growth strategy in private markets where we have the ambition to become the European champion.
“P Capital Partners’ capability in the corporate non-sponsor sector and 20-year track record will offer our clients access to a wider range of differentiated offerings and improve our ability to better serve clients.”
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By GlobalDataPCP, with a history dating back to 2002, has invested in over 170 companies.
It offers customised financing solutions to mid-sized businesses that often struggle to obtain traditional loans and prefer not to sell equity to finance growth.
PCP founder and CEO Daniel Sachs said: “Tailored and creative funding to support entrepreneurs to drive innovation and growth is more critical than ever. Together with M&G, we are well-positioned to make uncompromised funding more accessible.
“A win for entrepreneurs, family owned businesses and the sustainable transition that they drive when given the opportunity to achieve their full potential.”
The deal is anticipated to be finalised by mid-2025, pending regulatory approval.
M&G’s private markets business, including the £129bn ($160bn) With Profits Fund, allows clients to access new sources of higher-yielding investment strategies.
The With Profits Fund manages the long-term savings of 4.6 million UK policyholders, including 450,000 clients in PruFund.
Last month, M&G Investments hired Marcello Arona from AXA to serve as its new CFO.
UK-based investment manager M&G Investments has announced the acquisition of a majority stake in private credit firm P Capital Partners (PCP).
The acquisition sees M&G taking a 70% stake in Stockholm-based PCP, which employs 45 people. Since its inception, PCP has raised around €7bn ($7.26bn).
PCP’s management will continue to hold the remaining equity stake, with the management team and investment strategies remaining unchanged following the deal.
The transaction will integrate PCP into M&G’s £73bn ($90.8bn) private markets business.
M&G Investments CEO Joseph Pinto said: “This acquisition of a majority stake in P Capital Partners is in line with our growth strategy in private markets where we have the ambition to become the European champion.
“P Capital Partners’ capability in the corporate non-sponsor sector and 20-year track record will offer our clients access to a wider range of differentiated offerings and improve our ability to better serve clients.”
PCP, with a history dating back to 2002, has invested in over 170 companies.
It offers customised financing solutions to mid-sized businesses that often struggle to obtain traditional loans and prefer not to sell equity to finance growth.
PCP founder and CEO Daniel Sachs said: “Tailored and creative funding to support entrepreneurs to drive innovation and growth is more critical than ever. Together with M&G, we are well-positioned to make uncompromised funding more accessible.
“A win for entrepreneurs, family owned businesses and the sustainable transition that they drive when given the opportunity to achieve their full potential.”
The deal is anticipated to be finalised by mid-2025, pending regulatory approval.
M&G’s private markets business, including the £129bn ($160bn) With Profits Fund, allows clients to access new sources of higher-yielding investment strategies.
The With Profits Fund manages the long-term savings of 4.6 million UK policyholders, including 450,000 clients in PruFund.
Last month, M&G Investments hired Marcello Arona from AXA to serve as its new CFO.
