Deals

Lexington buys ~$1bn venture portfolio at big discount

The deal is an example of the type of ‘clean up’ deals routinely run by fund of funds and secondary shops.

India stock exchange deal is latest example of country’s GP-led appeal

HarbourVest Partners, LGT Capital Partners and Pantheon backed a $700m single-asset transaction involving the National Stock Exchange of India.

TPG, AlpInvest, Pantheon back IK’s insurance single-asset deal

The transaction comes off the back of at least three other insurance-focused continuation fund deals in Europe over the past half-year.

Declaration explores process as anchor LP David Rubenstein seeks liquidity

The deal would allow Rubenstein to sell partial stakes in several assets, which will support his investment in the Baltimore Orioles Major League Baseball franchise, sources said.

StepStone leads on $762m Australian secondary deal

The innovative transaction involves StepStone providing funding for MLC Private Equity’s seed portfolio and additional capital for its new investments.

StepStone leads on $175m insurance-focused continuation fund

Hudson Structured Capital Management has moved five assets out of a multi-sector insurance-focused fund into a continuation vehicle.

ICG’s Strategic Equity steps up as buyer on CVC’s single asset

LPs will be given the option to roll or sell on CVC’s continuation fund process for Multiversity, which is understood to be €1.5bn-€2bn in size, Secondaries Investor learns.

Continuation fund investors eye payout in Leonard Green’s SRS Distribution exit

While Leonard Green’s transaction is giving cash-out LPs the benefit of both processes, the ‘quick flip’ issue remains controversial in continuation fund deals where assets are quickly exited.

Wellspring to close nearly $1bn multi-asset deal with Neuberger, Lexington

Continuation fund will hold Wellspring portfolio companies SupplyOne, Cadence and Pentec Health, and includes $125m of unfunded capital for growth.

Montana, Committed Advisors among buyers of latest Taiwanese portfolio sale

Shin Kong Life’s portfolio sale comes just weeks after Cathay Life sold $1.2bn of fund stakes to HarbourVest, as impending regulatory changes prompt insurers to rethink their private markets exposure.