LP Sales

The deal is part of a wave of LP secondaries driven by fund investors' desire to get proceeds from older funds.

The deal comes as LP secondaries sales keep steady and drive activity with strong pricing and sellers eager to capture liquidity from private equity portfolios.

The system has not yet finalised a contract with a secondaries adviser.

As the LP-led market grows ‘white hot’, mosaic transactions are sparking debate among some practitioners over the impact on returns.

Cathay Life and some of its fellow Taiwanese insurers have been pulling back from private markets due to current and impending regulatory capital requirements.

A panel of LPs at PEI's NEXUS 2024 summit discussed trends and themes in private equity, including the use of secondaries to rebalance portfolios.

Lazard expects deal volume this year to approach or exceed 2021 levels as LPs and sponsors seek innovative liquidity options in the secondaries market.

Many limited partner institutions either have used the secondaries market to sell fund stakes, or are ready to hit the market with sales as soon as pricing hits the right level.

LP portfolio sales led volume last year, clocking in at an estimated $60bn out of a total of $115bn, according to PJT Park Hill’s full-year volume survey.

The $138.5bn system recently sold huge stakes of its private equity portfolio.