Strategic Partnership Strengthens M&G Presence in Global Secondary Private Equity Market

Strategic Partnership Strengthens M&G Presence in Global Secondary Private Equity Market

(IN BRIEF) M&G Investments has completed a $1.1 billion managed secondary transaction in partnership with CVC Secondary Partners, marking a major expansion of its private equity platform. The investment will acquire interests in mature North American mid-market buyout funds and enable future co-investments, with M&G retaining portfolio management responsibilities. Building on a long-standing relationship between the firms, the deal provides diversified exposure to established private equity assets while enhancing M&G’s ability to source and structure investments through the growing secondary market. Completed at the end of 2025, the partnership positions both organisations for further growth in private markets.

(PRESS RELEASE) LUXEMBOURG, 17-Feb-2026 — /EuropaWire/ — M&G Investments has expanded its private equity capabilities through the completion of a $1.1 billion managed fund secondary transaction, forming a new strategic partnership with CVC Secondary Partners. The deal represents a significant step in strengthening collaboration between the two firms and further scaling M&G’s private assets platform.

As part of the agreement, funds advised by CVC have committed $1.1 billion to M&G’s 2025 PE Secondary Fund. The capital will be used to acquire a portfolio of private equity interests focused mainly on mature North American mid-market buyout funds, while also supporting future co-investments alongside the underlying managers. M&G will continue to manage the portfolio and maintain direct relationships with those managers.

The transaction builds on a relationship spanning more than two decades and provides immediate exposure to a diversified selection of established U.S. private equity funds. It also offers access to M&G’s network of leading General Partners, creating opportunities to deploy capital through structured secondary investments and co-investment strategies designed to generate long-term value.

The partnership is intended to enhance sourcing capabilities, broaden investment reach, and support continued growth in M&G’s private equity business, while offering investors access to seasoned assets managed by high-quality sponsors. The deal also reflects the evolving role of the secondary market in providing liquidity solutions while enabling new primary investment opportunities.

Advisory support for the transaction was provided by Evercore. The transaction reached completion on 31 December 2025.

Media Contact:

Carsten Huwendiek
Managing Director, Global Head of Marketing and Communications
CVC Capital Partners
Tel: +44 (0) 20 7420 4240
chuwendiek@cvc.com

SOURCE: CVC Capital Partners