Western Europe

The transaction represents Main’s third platform investment in France in 2025.

Marlin Equity Partners portfolio company Learning Pool has acquired Elucidat, a cloud-based authoring platform.

By appealing to retail and large institutional investors, mega-managers may end up with the lion’s share of capital, with implications for themselves and their investors, writes Cambridge Associates’ Andrea Auerbach.

Competition for capital is fierce, but new firm formation is poised to continue nonetheless.

Private markets M&A continues to gather pace as asset management mega-platforms attempt to meet all their investors’ needs.

The top force fuelling M&A among private markets managers is the ambition to become as relevant to private wealth and insurance money tomorrow as institutional capital today.

Elucidat is a cloud-based authoring platform.

Manx is an integrated incumbent digital-infrastructure platform on the Isle of Man.

Apex is a logistics company based in Singapore.

The firm appointed Benjamin Cordonnier as CEO and co-managing partner, and Judith Charpentier as co-managing partner in May.