Deals

The New York-based private equity real estate secondaries firm has entered into its first student housing deal with the 80% equity interest purchase of two assets for $30m.

The $10.5bn pension worked with UBS to sell a portion of its private equity portfolio. The pension board last week approved more than $100m in commitments, including to Cinven's fifth fund.

German secondaries firm Paragon Partners has sold the remaining three companies from its 2006 fund as it works to raise a new fund.

French group AXA Private Equity, led by Dominique Senequier, has sealed the acquisition of a $1.7bn portfolio of assets from Citigroup, 14 months after a similar deal with Bank of America.

The $74bn pension has launched a competitive auction for a portfolio of fund stakes worth more than $1bn.

The $113bn pension has issued a request for proposal for a firm to run a sale of private equity and possibly real estate fund interests on the secondaries market. Proposals are due 21 June.

The US pension may, if the price is right, sell up to $1bn-worth of private equity holdings on the secondaries market.

The asset class is seeing funds come to market with dedicated allocations to secondaries, such as funds-of-funds recently closed by Partners Group and Pantheon. A €500m block of infrastructure fund interests currently up for sale also indicates dealflow is picking up sharply.

The secondaries firm has hired two deal sourcing agents in Mumbai as it looks to expand its presence in emerging markets.

The state’s $70bn pension is considering selling a big chunk of its private equity portfolio to pare down relationships and potentially 'kick-start' the programme that has been mostly inactive for two years.