The transaction, expected to close in Q4, will support the growth of AREP's investment and development platform, including its vertically integrated data center strategy.
The partnership will also develop products for wealth investors, beginning with an evergreen private equity secondaries fund expected in the coming weeks.
The deal expands Flexstone's private markets platform with the addition of Glouston's North American middle market secondaries strategy.
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 partnership will allow LIM to broaden its product range and bring mutual funds and ETFs to market for advisers and their clients.
The sale will be at a premium to NAV and marks the GP stakes specialist's tenth realization since 2024.
Founded in 2008, Prime is a private commercial real estate credit platform with over $15 billion in AUM.
