M&G will be looking for that ‘hygge’ feeling with P Capital Partners forming part of its growth strategy, adding to M&G’s capabilities in private credit and structured credit. The Swedish manager’s expertise in non-sponsored lending is likely to be a key differentiator for M&G as it continues to broaden its global distribution platform. M&G is set to acquire a 70% stake in the manager, whose management team will remain unchanged. Hopefully the economics of the deal will prove to be highly fjord-able!