Aiming to boost UK private market investments, the pension also looks to invest £5 billion through IFM by 2030.
The deal marks the sixth investment made by Armen's inaugural GP stakes fund, which targets a portfolio of European alternative asset managers across different strategies.
The 15-asset vehicle, among the largest GP-led infrastructure deals to date, drew more than $7 billion of demand and included around $2.5 billion of new capital.
The deal would reportedly expand the firm's presence in Europe and boost its infrastructure exposure.
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 secondary market specialist will remain independently managed by its existing leadership team, with no changes to its investment strategy.
The Paris-based asset manager oversees €2 billion in assets and operates across multiple strategies, including LBO, venture capital, and real estate.
Founded in 2002, CRC is a private credit manager that invests in bank capital strategies, mainly SRT transactions, that deliver non-dilutive capital solutions to European banks.
