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LP Sales
The proportion of stakes sold by public pension funds tripled between the first half of last year compared with the first half of 2015, according to a report.
The Pennsylvania Public School Employees’ Retirement System will sell the interests for at least 80 percent of their 30 September net asset value.
UBS has advised CalPERS on a series of secondaries deals dating back to 2007.
Pomona funded the transaction using its eighth secondaries fund, which closed on $1.75bn in April 2014.
The Royal Bank of Canada Trust Corporation has sold its stake in The Rockspring Pan-European Property Fund to a group of secondaries buyers.
The Rockspring Pan European Property Fund invested in Portugal-based shopping centres RioSul and SerraShopping.
CalPERS is cutting its relationships with managers and paring back private equity, but it's unclear if it will use the secondaries market to do so.
The Pennsylvania Public School Employees’ Retirement System has sold 20 private equity fund stakes valued at roughly $2bn.
The private equity firm has created a site for potential sellers and buyers of its fund interests to exchange info, a move that puts Sun Capital into one of the IRS’ ‘safe harbours’ from certain US tax regulations.
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