The deal marks Reality Growth's second investment since launching earlier this year as a dedicated GP stakes platform.
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 GP stakes deal builds on a 2024 strategic partnership, which established Lazard Elaia Capital as a technology-focused private equity investment platform.
The commitment comes just eight months after Wafra first invested in the French manager.
The sale will be at a premium to NAV and marks the GP stakes specialist's tenth realization since 2024.
The multi-strategy hedge fund manager provides institutional investors with exposure to cryptocurrencies and other digital assets.
The Zenzic Real Estate Credit Opportunities Fund launched in October 2025 with an anchor investment from GCM Grosvenor.
The addition of Glouston Capital Partners will support the Natixis affiliate's efforts to expand its secondaries strategy and US distribution reach.
Founded in 2024 by former Park Square executive Jacob Ucar, Kinnerton provides debt and minority equity capital to mid-market businesses.
