The deal marks Reality Growth's second investment since launching earlier this year as a dedicated GP stakes platform.
The private debt specialist, which operates a dedicated secondaries strategy, has reportedly held talks with several international investors.
The passive minority investment will reportedly strengthen the Swiss private equity firm's balance sheet and support team expansion and alignment with LPs.
A non-binding term sheet also gives O3 the option to increase its ownership in the Hungarian fund manager if AUM grows significantly.
The GP staker will support the Australian property investor's growth across distribution, product development, and institutionalization.
The deal marks the sixth investment made by Armen's inaugural GP stakes fund, which targets a portfolio of European alternative asset managers across different strategies.
The deal, which includes future fund commitments, expands Temasek's exposure to Italy's mid-market.
The deal would reportedly expand the firm's presence in Europe and boost its infrastructure exposure.
The £165 million deal was completed through a joint venture, with Partners Group investing from its real estate secondaries strategy.
The deal will support the UK housebuilder's expansion toward 7,000 homes a year, with Apollo retaining control.
