The private debt specialist, which operates a dedicated secondaries strategy, has reportedly held talks with several international investors.
The strategy, anchored by a Korean institutional investor, has adopted an evergreen semi-liquid structure aimed at capturing emerging credit secondary opportunities throughout the cycle.
A non-binding term sheet also gives O3 the option to increase its ownership in the Hungarian fund manager if AUM grows significantly.
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.
AllianzGI's credit secondaries platform seeded JCP's inaugural European direct lending fund with a recently originated private credit portfolio.
Founded in 2024 by former Park Square executive Jacob Ucar, Kinnerton provides debt and minority equity capital to mid-market businesses.
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.
