The passive minority investment will reportedly strengthen the Swiss private equity firm's balance sheet and support team expansion and alignment with LPs.
The New York-based manager is also planning a successor to its GP-led secondaries fund in 2027 and is targeting an H1 first close for its debut credit secondaries offering.
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 partnership will also develop products for wealth investors, beginning with an evergreen private equity secondaries fund expected in the coming weeks.
The secondary market specialist will remain independently managed by its existing leadership team, with no changes to its investment strategy.
Blue Owl GP Stakes VI, which has raised approximately $10 billion, is expected to hold a final close this year.
SecondaryLink outlines the IRR & MOIC of several GP stakes funds managed by Blue Owl.
Blue Owl GP Stakes VI, which expects to wrap up fundraising this year, is roughly 40% committed against its $13 billion target.
