The deal is part of a broader acquisition by European investment firm Wendel, which jointly acquired a 75% equity stake in the private credit markets specialist.
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.
Founded in 2024 by former Park Square executive Jacob Ucar, Kinnerton provides debt and minority equity capital to mid-market businesses.
The partnership reflects "strong conviction with regards to the broad development of the secondaries market," said Gilles Dusaintpère, Head of GP Stake Investments at BNPP AM Alts.
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.
The firm's GP Stakes team has completed six investments to date, including minority interests in Hayfin, Monroe, Rivage, and Latour.
The cash-and-equity deal broadens CVC's access to the US credit market and will see its credit FPAUM increase to €61 billion.
The Taconic spin-off, which received a $200 million strategic investment from Stable, will launch a credit-focused evergreen fund.
Bonaccord first backed the London-based private credit investor in 2021, helping scale its platform and broaden global reach.
