LONDON – Park Square Capital (“Park Square” or “the firm”), one of Europe’s leading credit investment firms with approximately $10 billion in assets under management, today announces that Bonaccord Capital Partners (“Bonaccord”), a private equity firm focused on acquiring non-control equity interests in leading mid-size private markets sponsors, has invested in a non-voting, passive minority stake in the firm. Terms of the investment were not disclosed.
Bonaccord's investment marks a further step forward in the institutionalization of Park Square by aligning the team as substantial equity holders, creating a balance sheet to support the future growth of the firm, and enhancing its governance structures. The investment will have no impact on the day-to-day management or operations of Park Square and is non-voting, which means the firm’s investment and decision-making processes will remain unchanged.
"We are delighted to welcome Bonaccord as a long-term strategic investment partner. 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 Robin Doumar, Managing Partner of Park Square.
"We are thrilled to have the opportunity to partner with Park Square Capital in support of its institutionalization and long-term strategic initiatives. We believe that Park Square has built a leading platform among European private credit sponsors and is well-positioned for continued success." said Ajay Chitkara, Head of Bonaccord.
Park Square has experienced significant growth since its inception in 2004, with AUM increasing to over $10bn. It provides credit solutions to high-quality and stable companies across Europe and the United States and has invested more than $19bn in senior and subordinated debt. The firm has an experienced team of over 100 people based across London, New York, Frankfurt, Luxembourg, Paris, Stockholm and Seoul.
Goldman Sachs acted as financial advisor and Kirkland & Ellis acted as legal advisor to Park Square. Fried Frank acted as legal advisor to Bonaccord on the transaction.
About Park Square
Park Square Capital is a leading private debt manager, providing senior debt, subordinated debt and mid-market direct loans to companies in Europe and the US.
Park Square provides financing for high-quality companies backed by leading private equity sponsors. The firm has a selective, long-term and flexible investment approach, aimed at delivering attractive risk-adjusted returns across the market cycle.
Park Square currently manages approximately $10bn of capital on behalf of its investors, which include global public and private pension funds, sovereign wealth funds, insurance companies, family offices and asset managers. The firm was founded in 2004 and remains fully independent. Park Square has over 100 staff, with offices in London, New York, Frankfurt, Luxembourg, Paris, Stockholm and Seoul.
For more information, please visit www.parksquarecapital.com
About Bonaccord
Bonaccord focuses on making strategic minority investments in leading mid-sized alternative asset managers across private equity, private credit, real estate and real assets globally. Bonaccord's minority investments support the creation of long-term strategic value for these leading managers enhanced by leveraging Bonaccord's strategic development capabilities and broader global network. Bonaccord is a subsidiary of P10, Inc.
About P10
P10 is a leading multi-asset class private markets solutions provider in the alternative asset management industry. P10's mission is to provide its investors differentiated access to a broad set of investment solutions that address their diverse investment needs within private markets. As of September 30, 2021, P10 has a global investor base of over 2,400 investors across 46 states, 29 countries and six continents, which includes some of the world's largest pension funds, endowments, foundations, corporate pensions and financial institutions. Visit www.p10alts.com.
For Park Square enquires:
Greenbrook
Alex Jones / John Hamlin
ParkSquare@greenbrookadvisory.com
+44 207 952 2000
For Bonaccord enquiries:
Info@P10alts.com