M&G Investments (M&G) today announces the expansion of its private equity platform with the completion of a landmark $1.1 billion managed fund secondary transaction in a new strategic partnership with CVC Secondary Partners (CVC), deepening the relationship with one of the world’s leading private markets managers.
Under the terms of the partnership, funds advised by CVC have committed $1.1 billion to M&G’s 2025 PE Secondary Fund to acquire a portfolio of private equity interests - primarily in mature North American mid-market buyout funds - and to make future co-investments alongside these managers. M&G will maintain the management of the portfolios and the direct relationships with the underlying managers.
Building on M&G and CVC’s history of collaboration, the transaction delivers immediate exposure to a diversified portfolio of high-quality US private equity funds and access to M&G’s established network of leading General Partners. The partnership provides a strong platform for allocating capital to compelling opportunities through innovative structures, whilst also expanding M&G’s private assets platform for the next phase of growth.
Emmanuel Deblanc, Chief Investment Officer, Private Markets at M&G, said: “Having worked with CVC for more than two decades supporting the growth of private companies globally, this new mandate builds on a relationship rooted in investment excellence, aligned philosophies and a shared commitment to disciplined portfolio construction. By partnering with CVC on this transaction, we are combining our joint sourcing capabilities, scale and expertise in secondary investing, which broadens what we can deliver for clients, supports the continued growth of our private equity business and reinforces our commitment to backing strong businesses with long-term capital.”
Louise Boothby, a Managing Partner at CVC Secondary Partners, said: “We are pleased to be partnering with M&G again in this landmark transaction. This represents an exciting expansion of our long-standing relationship with M&G and importantly provides our investors with exposure to a seasoned and diversified portfolio, managed by some of the highest quality private equity managers.”
Francesca Paveri Fontana, Senior Managing Director at Evercore, said: “This transaction showcases the innovative nature of the secondary market by not only providing a strong liquidity solution for existing assets, but also expanding the primary deployment capabilities of both firms involved. We are delighted to have partnered with M&G on their successful transaction and congratulate the M&G and CVC teams on reaching this important milestone.”
The transaction completed on 31 December 2025.