Deals

The mid-market manager is seeking to move four assets into a new vehicle, Secondaries Investor has learned.

While some believe exit activity will pick up this year along with overall investment activity, PE-backed assets held in older funds continue to grow.

LP-led deals saw a record $87bn volume last year as pricing continued to increase, according to a report from Jefferies.

The LP is exploring the proposition of offloading the stakes amid a secondaries market with record activity.

The process comes at a time of increased momentum for GP-led credit deals with a number $1bn-plus transactions closing last year.

The US pension giant has come up with a pricing strategy that could make it benefit more from this portfolio sale, Secondaries Investor understands.

CDIB Capital Group has closed its first continuation fund as APAC sponsors become more accepting of GP-led deal structures.

News of the sale follows the record-breaking close of Ardian’s latest secondaries flagship on $30bn.

Providence’s single-asset deal for Globeducate was one of two deals it was shopping in the market last year, Secondaries Investor understands.

Transaction volume last year was significantly up from $114bn in 2023, with both LP-led and GP-led transactions hitting new highs.