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The $200bn pension now places a greater focus on the CV market, which is less crowded by retail capital, according to senior investment officer John Bradley.

The overall buyers on the deal could account for a portfolio of around $3-$4bn, Secondaries Investor understands.

Khazanah joins a number of APAC sellers this year, with Malaysia’s EPF and China Investment Corp also looking to offload portfolios.

The deal marks another notable transaction by a Taiwanese insurer following Fubon Life’s over $1bn sale of a private market portfolio.

Nearly 45% of companies within single-asset CVs had an implied TEV greater than $2bn last year reflecting minority interest or strip sales for larger companies being used in these deals.

Part of the portfolio, which includes exposure to Advent International and Antin Infrastructure Partners, was picked up by Hamilton Lane.

With private equity portfolio sales proliferating, here’s why UK multi-family office Stonehage Fleming is an active secondaries buyer and Australian state fund QIC is not.

French investment firm Peugeot Invest is offloading 35 PE funds to rebalance its portfolio.

A North American pension fund is exploring commitments to six funds managed by Ares, Blackstone, HarbourVest, Macquarie, Pantheon and Partners Group.

With peers facing substantial portfolio challenges, the $30bn endowment is urging restraint in what its leaders say is an environment for endowments akin to 2008’s financial crisis.