•  
• Tweet
•  
•        Print
•  
•         Track Keywords
•  
• 

Laxman Pai, Opalesque Asia:

The London-headquartered fund group M&G Is acquiring a majority stake in Swedish private credit business P Capital Partners (PCP).

According to a media release from the UK-listed savings and investments group, the deal will see M&G take a 70% stake in Stockholm-based P Capital. It will become part of M&G's existing GBP73bn private markets business, and sit alongside the GBP19bn it already oversees in private credit and structured credit.

The European private credit business PCP provides funding to help entrepreneurs and family-owned businesses to grow and sustainable technologies to scale. Based in Stockholm with a team of 45, PCP has raised circa €7 billion since inception. There will be no changes to PCP's management team or investment strategies as a result of the deal with M&G.

According to the press release, the acquisition further underpins M&G's strategic growth plans. It cements its position as a leader in European private assets, adding differentiated investment and origination expertise, whilst strengthening PCP's capabilities and plans for continued European expansion.

M&G's private corporate credit lending capabilities stretch back nearly 25 years when it was the first non-bank lender to invest in European leveraged loans. Investing in private credit strategies on behalf of external clients and its Life business, including through the GBP129 billion. With Profits Fund, M&G's private markets business enables the......................

To view our full article Click here