John Bakie
The deal is the second between the two firms to provide liquidity to Eurazeo’s LPs while maintaining continuity for borrowers.
Firms are bifurcating between serving large private equity-backed deals or looking at more niche specialist concerns to stand out in a competitive market.
Investors looking to take more risk in private credit could consider the highly specialised sports and media sector, which is undergoing a major transformation.
The significant risk transfer market has been growing in popularity as banks seek to free up more capital for lending.
The move completes the integration of Alcentra and Benefit Street Partners, both of which are part of Franklin Templeton’s alternative credit platform.
The deal will significantly expand CVC’s presence in North America and follows the signing of a $3.5bn partnership with AIG.
The deal will see the American insurer commit significant capital to private and liquid credit strategies.
CalPERS and the European Investment Bank were among the leading investors in credit funds last year.
The fund will follow its predecessor in backing performing credit opportunities driven by the region’s rapidly developing economy.
Fundraising hit a new record in 2025, but only just!