Client news

A&O Shearman advises M&G on strategic CLO platform joint venture with Ontario Teachers' Pension Plan

A&O Shearman advises M&G on strategic CLO platform joint venture with Ontario Teachers' Pension Plan
Published Date
Aug 18, 2026
Related people
Image of Matt Huggett
Matt HuggettPartner, London
Image of James Burton
James BurtonPartner, London
Image of James Fraser
James FraserSenior Associate, London
Image of Davis Kontelj
Davis KonteljAssociate, London
Image of Pui Hei (Hugo) Chan
Pui Hei (Hugo) ChanSenior Associate, London
A&O Shearman has advised M&G Investments (M&G) on its long-term joint venture with Ontario Teachers’ Pension Plan (Ontario Teachers’) to support the scaling of M&G's European CLO platform, Margay. Pursuant to the joint venture, Ontario Teachers’ will provide up to EUR200 million investment capacity for future M&G Margay CLO issuances. The investment supports M&G’s ambition to be a leader in European private assets for institutional investors globally through its EUR93bn private markets business. 
The transaction provides M&G with aligned long-term capital and a strong foundation to scale the Margay platform over time. It reflects continued institutional demand for private credit and structured finance opportunities and demonstrates A&O Shearman’s ability to advise leading global asset managers and institutional investors on complex, strategic ventures in the rapidly growing private credit market.

“This transaction underscores the growing appetite among institutional investors for structured credit solutions. We are delighted to have supported M&G on this landmark joint venture, which positions Margay for future growth in the European CLO market.”

The cross-practice team was led by partner Matt Huggett alongside senior associate James Fraser and associate Davis Kontelj. Tax advice was provided by partner James Burton and senior associate Hugo Chan. 

A&O Shearman acted as legal and tax adviser to M&G. The firm has an established relationship with M&G. 

Related capabilities