EQT, BC Europe funds included in Astrea II

Secondaries Investor reveals more inside detail on some of the European funds Temasek transferred to create a 36-fund co-investment vehicle managed by Ardian.

LP stakes in EQT and BC Partners funds are among those Temasek Holdings, the Singapore-based sovereign wealth fund, has transferred to its near-$1 billion Astrea II co-investment vehicle.

Its holdings in EQT IV, EQT V, EQT VI and BC European Capital II were moved across on 9 April, according to UK regulatory notices.

They are not the only European funds in Astrea II’s 36-fund portfolio; Equistone Partners Europe Fund II and Fund III as well as PAI Europe IV and PAI Europe V are part of the portfolio, Secondaries Investor revealed last week.

Astrea II follows on from Astrea I, launched in 2006 as “the first in a series of private equity co-investment platforms” that tie into Temasek’s initiatives to broaden its co-investment base, with the aim to eventually market products to retail investors, according to a statement released last week.

Temasek retains a 38 percent stake in Astrea II, while the remaining 62 percent is split between six co-investors, including secondaries specialist Ardian, which has been appointed general partner and manager of the co-investment fund. Ardian’s share is believed to be worth around $200 million, Secondaries Investor previously reported.