European GP-stakes pioneer Armen has acquired a 16 per cent minority stake in different credit score investor Refrain Capital.
The deal is ready to shut by the top of September and marks the third funding by Armen’s GP Stakes Fund I and its first within the different credit score area.
Refrain Capital stated that it intends to make use of the vast majority of the funding to co-invest in its upcoming fund, and to develop its presence within the quickly rising risk-sharing transaction market.
Learn extra: Shojin poised to unveil new partnerships within the Gulf
“After the profitable elevating of our newest fund at $2.5bn (£1.91bn) in 2024, Refrain Capital is now trying to additional strengthen its management within the risk-sharing transaction market,” stated Gilles Marchesin, founder and chief government of Refrain Capital.
“We’re genuinely excited to companion up with Armen, whose founders are extremely profitable and revered entrepreneurs.
“The partnership will enable us to take a position extra into our personal funds going ahead, additional enhancing the alignment with our buyers as we put together ourselves for vital development within the years to come back.”
Refrain Capital has secured virtually $5bn in mixture commitments since its inception.
Learn extra: AXA IM Alts to purchase Capza
“Backing a European-rooted international supervisor with a particular technique in a well-established and quickly rising market was an apparent selection,” stated Laurent Bénard, chief government of Armen.
“We had been impressed by the crew’s distinctive expertise, their quick growth tempo whereas persistently delivering sturdy outcomes and their ambition to turn out to be a world chief.
“From Armen’s portfolio building perspective, this primary partnership within the different credit score area underscores our dedication to constructing a diversified portfolio for our shoppers.”
Learn extra: Natixis sells MV Credit score to US-based Clearlake
