SLEPET acquired a $20 million stake in Onex Partners IV and a €15.2 million stake in Nordic Capital Fund VIII, according to its interim results published on 18 June.
The identity of the seller is unclear.
Onex IV is a $5.7 billion fund which closed above its $4.5 billion target in 2014 after 10 months in market, according to PEI data. Large LPs in the fund include the California Public Employees’ Retirement System, which committed $300 million, and the California State Teachers’ Retirement System, which committed $200 million.
Assets in the fund include aerospace and space technology provider AIT and Alabama-headquartered fast food chain Jack’s Family Restaurants, according to Onex’s website.
The fund has a since-inception internal rate of return of 2.52 percent, according to performance data from CalSTRS. Its predecessor, the 2008-vintage Fund III, has returned 15.19 percent. It is unclear whether the CalSTRS figures are gross or net.
Nordic Capital VIII closed on its €3.5 billion target in 2013, according to PEI data. Minnesota Board of Investment committed $200 million and Washington State Investment Board €320 million.
Assets in the vehicle include German healthcare services provider Alloheim and digital savings platform Nordnet, according to Nordic’s website.
The fund has a since-inception net internal rate of return of 18.21 percent and a net multiple of 1.5x as of the end of last year, according to performance data from WSIB. Predecessor, the 2008-vintage Fund VII, has returned 15.19 percent and a 1.3x multiple.
SLEPET’s portfolio comprises 54 private equity fund interests valued at £518.6 million ($683 million; €591 million).
Onex and Nordic respectively ranked 23rd and 80th in the PEI 300, sister publication Private Equity International‘s list of the largest private equity firms by funds raised over a five year period.