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Laxman Pai, Opalesque Asia: Park Square Capital, European private debt manager, announced that Bonaccord Capital Partners, a private equity firm focused on acquiring non-control equity interests in leading mid-size private markets sponsors, has invested in a non-voting, passive minority stake in the firm.
Terms of the investment were not disclosed, the two firms said in a joint release.
Park Square has $10 billion in assets under management, including senior debt, subordinated debt, and midmarket direct loans to companies in Europe and the U.S backed by private equity sponsors, according to the release.
Its investors include global public and private pension funds, sovereign wealth funds, insurance companies, family offices, and asset managers. The independent firm has offices in London, New York, Frankfurt, Luxembourg, Paris, Stockholm, and Seoul.
Bonaccord's investment marks a further step forward in the institutionalization of Park Square by aligning the team as substantial equity holders, creating a balance sheet to support the future growth of the firm, and enhancing its governance structures, said the release.
The investment will have no impact on the day-to-day management or operations of Park Square and is non-voting, which means the firm's investment and decision-making processes will remain unchanged, it added.
Bonaccord Capital Partners is a subsidiary of P10, a niche-oriented private markets investment firm in Dallas, Texas. P10 acquir...................... To view our full article Click here
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