M&G and CVC Announce Landmark $1.1B Private Equity Transaction

Fried Frank advised CVC Secondary Partners (CVC) on a $1.1 billion managed fund secondary transaction in a new strategic partnership with M&G Investments (M&G), which the companies announced on February 16.

Under the terms of the partnership, funds advised by CVC have committed $1.1 billion to M&G's 2025 PE Secondary Fund to acquire a portfolio of private equity interests, primarily in mature North American mid-market buyout funds, and to make future co-investments alongside these managers. M&G will maintain the management of the portfolios and the direct relationships with the underlying managers. For more on the transaction, read the companies' press release.

The Fried Frank team was led by M&A and private equity partner Andrew Rearick and asset management partner Kate Downey.

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