Under the strategic partnership, funds advised by CVC committed $1.1bn to M&G's 2025 PE Secondary Fund to acquire a portfolio of private equity interests, primarily in mature North American mid-market buyout funds. The structure also allows for future co-investments alongside the underlying managers, adding a forward deployment angle to what is effectively a large-scale secondary capital injection. M&G will retain management of the portfolio and maintain direct relationships with the general partners. The transaction delivers immediate access to a diversified portfolio of US private equity funds and strengthens both firms' ability to deploy capital through secondary and co-investment structures. It also broadens M&G's private assets platform at a time when institutional investors are increasingly using secondaries to access seasoned portfolios and manage liquidity. Emmanuel Deblanc, Chief Investment Officer, Private Markets at M&G, framed the deal as an extension of a long-standing...
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