LP sales

The sheer scale of GP-led secondaries is enormous. But with turnover still marginal, the LP side is also poised for exponential growth.

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.