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 tip of September and marks the third funding by Armen’s GP Stakes Fund I and its first within the different credit score house.
Refrain Capital mentioned that it intends to make use of the vast majority of the funding to co-invest in its upcoming fund, and to broaden its presence within the quickly rising risk-sharing transaction market.
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“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,” mentioned Gilles Marchesin, founder and chief government of Refrain Capital.
“We’re genuinely excited to accomplice 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 important progress within the years to return.”
Refrain Capital has secured nearly $5bn in combination commitments since its inception.
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“Backing a European-rooted international supervisor with a particular technique in a well-established and quickly rising market was an apparent alternative,” mentioned Laurent Bénard, chief government of Armen.
“We have been impressed by the group’s distinctive expertise, their quick growth tempo whereas persistently delivering sturdy outcomes and their ambition to grow to be a worldwide chief.
“From Armen’s portfolio building perspective, this primary partnership within the different credit score house underscores our dedication to constructing a diversified portfolio for our purchasers.”
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