Listed

The listed private equity fund sold the $218m portfolio after a majority of shareholders said they no longer wanted to invest.

The fund of funds unit of Standard Life Investments closed its third secondaries fund in October. Secondaries Investor speaks to its head of secondaries about the fundraise, investor expectations and negotiating a 'lumpy' market.

The firm's latest secondaries fund, the $1.1bn Strategic Secondaries II, was 50% invested as of the end of September.

The firm sold a portion of the stake to unnamed limited partners for $198m, chief financial officer Chris Govan said in a Q3 earnings call.

The secondaries firm has acquired at least three stakes in the 2007-vintage buyout fund after acquisitions from LGT Capital Partners in April.

The listed vehicle invested in six secondaries deals in the three months to the end of August, including transactions in transport, energy and turnaround funds.

The Blackstone unit has tapped its latest real assets fund to emerge as the winner of a competitive tender offer process run by Campbell Lutyens.

Secondaries Investor caught up with Emma Osborne, head of private equity fund investments at the listed vehicle, about what has changed in the 16 months since the acquisition and her plans for the Trust over the next five years.

The listed private equity trust has appointed Jeremy Teague as chairman, replacing Mark Fane, who held the job for eight years.

The listed arm of SL Capital Partners acquired three stakes in the six months to March.