Deals

The deal marks the latest single-asset process for CVC, which moved Italian online university group Multiversity into a continuation fund last year.

Geopolitical tensions and liquidity strains could lead to a 50% year-over-year volume increase.

Secondaries buyers have lined up to back the deal, which is set to close this month, Secondaries Investor understands.

LGT Capital Partners and Future Standard have lined up as buyers on a company Incline acquired two years ago, Secondaries Investor understands.

The €590bn Dutch pension manager’s sale is a re-engagement with the market after the system pulled a similar offering last year.

The Chicago-based firm previously ran a continuation fund process on insurance company AssuredPartners, which was later sold in an M&A deal.

Unlike more traditional continuation fund deals, no assets or fund stakes are being rolled into a new vehicle in this deal.

The pension joins several large North American LPs that have considered or already sold more than $1bn of private markets exposure this year.

Buyers on the deal include Coller Capital, Apollo S3, CVC Secondary Partners and Hollyport Capital.

Rolling investors into the new fund include Partners Group, HighVista Strategies, Committed Advisors and Hollyport Capital, according to a statement.