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The latest mergers, acquisitions and other corporate actions in the wealth management sector.
M&G
Investments has just agreed to acquire a majority stake
in P Capital Partners (PCP), a European private credit
business in the corporate non-sponsor sector. It supports
entrepreneurs and family-owned businesses to grow and sustainable
technologies to scale.
The transaction is expected to close in mid-2025, subject to
regulatory approvals.
PCP will become part of M&G Investments’ £73 billion ($90
billion) private markets business, complementing its £19
billion private credit and structured credit teams and broadening
its client offering in a segment where PCP already has strong
relationships and an origination network. Based in Stockholm with
a team of 45, PCP has raised about €7 billion ($7.26 billion)
since inception, the firm said in a statement.
M&G will acquire 70 per cent of PCP, with its management
retaining the remaining equity stake following the transaction.
There will be no changes to PCP’s management team or investment
strategies, as a result of the deal with M&G.
“This acquisition of a majority stake in P Capital Partners is in
line with our growth strategy in private markets where we have
the ambition to become the European champion,” Joseph Pinto,
chief executive officer of M&G Investments, said. “P Capital
Partners” capability in the corporate non-sponsor sector and
20-year track record will offer our clients access to a wider
range of differentiated offerings and improve our ability to
better serve clients.”
“Increased access to direct investments is essential for
early-growth entrepreneurs to scale without losing control or
incentives. Together with P Capital Partners, we will aim to
create economic value and positive social impact by supporting
entrepreneurs who drive sustainable innovation,” Emmanuel
Deblanc, chief investment officer of Private Markets at M&G
Investments, added. “Through M&G’s global distribution
platform, P Capital Partners’ capabilities will be more widely
available in Europe and Asia, in turn supporting their growth
ambitions.”
Moelis & Company UK acted as exclusive financial advisor and
Goodwin Procter and Mannheimer Swartling acted as legal
advisors to P Capital Partners. Fenchurch Advisory Partners acted
as financial advisor and Freshfields and Gernandt &
Danielsson Advokatbyrå KB acted as legal advisors to
M&G.
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