The strategic partnership will initially focus on developing two European evergreen funds focused on private equity secondaries and private debt.
The deal, which includes future fund commitments, expands Temasek's exposure to Italy's mid-market.
The deal would reportedly expand the firm's presence in Europe and boost its infrastructure exposure.
The London-based startup aims to address private credit's fund-level liquidity, which remains constrained by available cash and redemption terms.
The partnership will also develop products for wealth investors, beginning with an evergreen private equity secondaries fund expected in the coming weeks.
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.
At least 80% of net proceeds from the transaction will be directed toward a share buyback program aimed at generating liquidity and NAV accretion.
The Dutch investment manager is expanding into GP stakes investing while also developing a dedicated open-ended strategy for managing secondary investments.
The deal will expand Mercer's private markets platform, adding expertise in secondaries and evergreen vehicles to its offerings.
The Taconic spin-off, which received a $200 million strategic investment from Stable, will launch a credit-focused evergreen fund.
