American International Group, Inc. (NYSE:AIG) and CVC today announced a strategic partnership designed to support AIG's long-term investment objectives in partnership with CVC's broad capabilities in insurance solutions and private markets innovation.
The strategic partnership includes the establishment of large-scale separately managed accounts ("SMAs") across CVC's credit strategies, and the launch of CVC's private equity secondaries evergreen platform with AIG as a cornerstone investor.
Together, these initiatives reflect a shared ambition to build a long-term relationship focused on scale, alignment and bespoke solutions for global Institutional and Private Wealth investors. The companies expect to explore additional areas of collaboration over time.
CVC Private Equity Secondaries Evergreen Platform
Under the partnership, CVC will establish its private equity secondaries evergreen platform with AIG acting as a cornerstone investor, contributing up to $1.5 billion from AIG's existing private equity portfolio. This will provide immediate scale and a seed portfolio for CVC's private equity secondaries evergreen strategy and enables AIG to efficiently manage and transition its legacy private equity exposures.
Strategic SMAs across CVC Credit
In parallel, AIG intends to allocate up to $2 billion to SMAs and Funds managed by CVC, with an initial $1 billion to be deployed through 2026. The SMAs will provide AIG with tailored access to diversified private and liquid credit strategies aligned with its regulatory, capital efficiency and investment return objectives. The partnership underscores CVC's ability to design and manage large, customized mandates for global insurance companies, drawing on its integrated credit platform and extensive origination capabilities across Europe and the U.S.
Rob Lucas, CEO of CVC, said:
"Our partnership with AIG is a powerful endorsement of CVC's ability to serve the evolving needs of global insurance institutions at scale. The SMA component demonstrates the depth of our credit platform and our capability to deliver bespoke, capital-efficient solutions for insurers worldwide. At the same time, the secondaries transaction provides a compelling foundation for our private equity evergreen secondaries vehicle, following on from the launch of our credit evergreen and private equity products last year."
Peter Zaffino, Chairman & CEO of AIG, said:
"CVC is a highly respected, world-class global investment manager with deep capabilities across credit and private markets. This partnership marks our first collaboration with a European headquartered asset manager and supports AIG's strategy of actively managing our investment portfolio while working with best-in-class partners to access differentiated opportunities. We look forward to leveraging CVC's investment expertise and to the long-term value we will create through our strategic partnership."
About CVC
CVC is a leading global private markets manager with a network of 30 office locations throughout EMEA, the Americas, and Asia, with approximately €201 billion of assets under management. CVC has seven complementary strategies across private equity, secondaries, credit and infrastructure, for which CVC funds have secured commitments of over €243 billion from some of the world's leading pension funds and other institutional investors. Funds managed or advised by CVC's private equity strategy are invested in approximately 150+ companies worldwide, which have combined annual sales of over €165 billion and employ nearly 600,000 people. For further information about CVC please visit: https://www.cvc.com/. Follow us on LinkedIn.
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