Private equity firm Bonaccord Capital Partners has taken a passive minority stake in European private debt manager Park Square Capital, the two firms said in a joint release Monday.
Terms were not disclosed.
Park Square has $10 billion in assets under management, including senior debt, subordinated debt and midmarket direct loans to companies in Europe and the U.S backed by private equity sponsors, according to the release. Its investors include global public and private pension funds, sovereign wealth funds, insurance companies, family offices and asset managers. The independent firm has offices in London, New York, Frankfurt, Luxembourg, Paris, Stockholm and Seoul.
Bonaccord Capital Partners is a subsidiary of P10, a niche-oriented private markets investment firm in Dallas, Texas. P10 acquired Bonaccord Capital Partners from Aberdeen Standard Investments in September 2021 and had $16.3 billion under management as of the end of October, according to its third quarter report.
According to the joint release, the non-voting investment will have no impact on the day-to-day management or operations of Park Square.
"Bonaccord's experience and track record of supporting leading alternative asset managers will be helpful to us as we continue to strategically build and scale our platform to better serve our limited partners," said Park Square Managing Partner Robin Doumar in the release.
Bonaccord head Ajay Chitkara said in the release, "We believe that Park Square has built a leading platform among European private credit sponsors and is well-positioned for continued success."