The Paris-based manager is reportedly securitizing private fund interests held through its secondaries strategy.
AllianzGI's credit secondaries platform seeded JCP's inaugural European direct lending fund with a recently originated private credit portfolio.
The oversubscribed vehicle provides liquidity to investors in Bridgepoint Direct Lending II, which holds a portfolio of senior secured European middle-market loans.
Potential backers reportedly sought a lower valuation for the loans held in the continuation fund.
The reported GP-led secondary sale would rank among the largest private credit secondary deals to date.
The portfolio and single-fund sales included stakes in US-based credit funds with 2019-2022 vintages.
Founded in 2024 by former Park Square executive Jacob Ucar, Kinnerton provides debt and minority equity capital to mid-market businesses.
The continuation fund will acquire a portfolio of European asset-backed finance assets.
This deal marks the largest credit secondaries transaction to date for the 2025 SecLink Awards winner of Top Private Debt Buyer.
Founded in 2002, CRC is a private credit manager that invests in bank capital strategies, mainly SRT transactions, that deliver non-dilutive capital solutions to European banks.
