Armen takes minority stake in Chorus Capital
European GP-stakes pioneer Armen has acquired a 16 per cent minority stake in alternative credit investor Chorus Capital.
The deal is set to close by the end of September and marks the third investment by Armen’s GP Stakes Fund I and its first in the alternative credit space.
Chorus Capital said that it intends to use the majority of the investment to co-invest in its upcoming fund, and to expand its presence in the rapidly growing risk-sharing transaction market.
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“After the successful raising of our latest fund at $2.5bn (£1.91bn) in 2024, Chorus Capital is now looking to further strengthen its leadership in the risk-sharing transaction market,” said Gilles Marchesin, founder and chief executive of Chorus Capital.
“We are genuinely excited to partner up with Armen, whose founders are highly successful and respected entrepreneurs.
“The partnership will allow us to invest more into our own funds going forward, further enhancing the alignment with our investors as we prepare ourselves for significant growth in the years to come.”
Chorus Capital has secured almost $5bn in aggregate commitments since its inception.
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“Backing a European-rooted global manager with a distinctive strategy in a well-established and rapidly growing market was an obvious choice,” said Laurent Bénard, chief executive of Armen.
“We were impressed by the team’s unique experience, their fast development pace while consistently delivering strong results and their ambition to become a global leader.
“From Armen’s portfolio construction perspective, this first partnership in the alternative credit space underscores our commitment to building a diversified portfolio for our clients.”
