LP sales

LP portfolio sales fell to account for around half of total deal volume last year as GP-led processes surged.

The appointment comes at a time when many advisors are focusing on GP-led transactions.

CIO Jim Grossman told the $63bn pension's board that staff would focus on slower private equity pacing to reduce its allocation for now.

The $56bn US pension will continue to look to the secondaries market to sell certain non-core holdings, CIO James Grossman has said.

Canada Pension Plan Investment Board's recent transaction shows that even at a time of considerable economic uncertainty, big, diversified portfolios can sell – and at a good price.

The Canadian pension giant is understood to have sold chunks of the portfolio, worth as much as $2.5bn in total, to separate buyers.

The US pension had set up a partnership with Pathway Capital Management last year to sell fund stakes.

The sale by Canada’s fourth-largest pension comes as it pivots to direct deals and invested a record amount in private equity in the 2019-20 financial year.

The pension giant is understood to be selling a portfolio containing high-quality stakes.

The deal is understood to have included stakes in funds managed by CVC Capital Partners, Blackstone and Apollo Global Management.