Soros Fund Management, the family office founded by billionaire investor George Soros, is exploring options to offload a private markets portfolio worth around $1 billion.
The New York-headquartered firm is planning to sell a bundle of private equity and venture capital fund stakes, according to three sources familiar with the matter.
It is understood Greenhill is advising on the process.
The portfolio is “eclectic” and contains vehicles such as Silver Lake Kraftwerk Fund, a $711.50 million, 2012-vintage fund that focuses on energy and resource innovation, according to one of the sources.
Soros Fund Management wants to sell the stakes to de-risk its portfolio, one of the sources said.
Founded in 1969, Soros Fund Management invests in public equities and debt, foreign exchange, commodities, private equity and venture capital, among other asset classes.
In October Bloomberg reported that the family office was to spin out its private equity team, which has around $2 billion in assets, and commit another $2 billion to the group. That group is led by David Wassong and Ravi Yadav.
It is not clear if this spin-out is connected with the portfolio sale.
The chief investment officer of Soros Fund Management, Dawn Fitzpatrick, joined from UBS Asset Management in 2017. Co-founder of BlackRock Keith Anderson and billionaire investor Stanley Druckenmiller are among her predecessors.
Family offices accounted for 4 percent of sellers by transaction value in 2018, according to research by Greenhill.
Soros Fund Management did not respond to a request for comment by press time. Greenhill declined to comment.
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