Paris, June 27th, 2025– Seven2 announces the final closing of a €400 million continuation fund to support two strategic assets and finance their development plans. LGT Capital Partners led the transaction, and funds and accounts managed by BlackRock acted as a Co-Lead.
Seven2 launches a continuation fund to support the growth of Marlink and Crystal, with the support of LGT Capital Partners as Lead and funds and accounts managed by BlackRock as Co-Lead
Seven2 has established a continuation fund and transferred its entire minority stake in Marlink and a portion of its minority stake in Crystal to the new vehicle.
Marlink and Crystal have both delivered strong growth since Seven2’s initial investment:
- Marlink: Since acquiring the business from Airbus in 2016, Seven2 has supported Marlink’s transformation from a satellite connectivity reseller into a global leader in digital and connectivity services for the maritime sector and companies operating in remote areas. This growth has been fueled by 10 targeted acquisitions. A majority stake was sold to Providence Equity Partners in 2022.
- Crystal: Since 2021, Seven2 has partnered with Crystal’s management team to consolidate the Independent Financial Advisor (IFA) market in France, building the national market leader. Crystal’s revenues have increased tenfold through double-digit organic growth and 33 acquisitions. A majority stake was sold to Goldman Sachs Asset Management in 2024.
Both companies continue to pursue ambitious strategies of consolidation and transformation. In order to provide the necessary time and financial resources, Seven2 decided to structure a dedicated vehicle tailored to support this next phase of development effectively.
The transaction also generates significant liquidity to Seven2’s historical funds.
An innovative structure backed by strong investor demand
The transaction attracted strong interest from both secondary investors and existing Seven2 LPs, resulting in a 30% oversubscription.
« With this €400 million continuation vehicle, Seven2 innovates with one of Europe’s first continuation funds including minority stakes. This initiative expands our investment offering and enhances our ability to support high-growth companies. We are confident in the value creation potential of businesses like Crystal and Marlink. This vehicle enables us to continue backing their long-term growth, remain invested over time, and provide liquidity to our investors. » says Guillaume Cousseran, Managing Partner and Head of Investor Relations at Seven2.
* Past performance is not indicative of future results. Private equity investments carry risks, including potential loss of capital and illiquidity. This is an advertising communication.
List of advisors
- Tax Advisor: DLA Piper (Raphaël Bera, Sarah Mordoff, Menad Benseghir)
- Secondary Transaction Advisor: Campbell Lutyens (Immanuel Rubin, Annabelle Judd)
- Legal Advisor – Fund Structuring & Regulatory: Willkie Farr & Gallagher (Nathalie Duguay, Anthony Civico)
- Legal Advisor – M&A: Willkie Farr & Gallagher (Gregory de Saxcé, Sarah Bibas)
- Legal Advisor – Portfolio: Weil, Gotshal & Manges (Alexandre Duguay)
Press contact
Lauren Bardet
Seven2 – Communications Director
+33 6 16 32 72 82
lauren.bardet@seven2.eu
