The investment is from a joint venture between Blue Owl's GP stakes fund and Lunate Capital, formed in February 2024.
The deal expands Flexstone's private markets platform with the addition of Glouston's North American middle market secondaries strategy.
The transaction adds nine private equity and credit secondaries strategies to EQT's offering, while its combined evergreen platform now exceeds €10 billion in NAV.
Under the non-binding agreement, O3 may increase its ownership in the social impact investor if certain fund launch and fundraising milestones are met.
The facility for a GP stakes fund provides incremental capital to support the borrower's acquisition strategy.
The secondary market specialist will remain independently managed by its existing leadership team, with no changes to its investment strategy.
The deal marks Reality Growth's second investment since launching earlier this year as a dedicated GP stakes platform.
The single-asset continuation fund was reportedly backed by the California Public Employees' Retirement System, Partners Capital, and Caltech.
The partnership will allow LIM to broaden its product range and bring mutual funds and ETFs to market for advisers and their clients.
SecondaryLink outlines the IRR & MOIC of several GP stakes funds managed by Blue Owl.
