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More Secondaries in the Pipeline

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July 9, 2012

The secondaries market continues to thrive with two more portfolios on the market, according to BusinessWeek. Lloyds and Groupama deliver further evidence of financial companies selling PE assets to free up required capital in an effort to comply with tighter regulations stemming from Europe’s sovereign-debt crisis.

 

British government-backed Lloyds Banking Group is planning to sell a EUR 1 billion portfolio of interests in European buyout funds, while French insurer Groupama is seeking to sell EUR 600 million worth of stakes in buyout and venture capital funds held both in Europe and the US. The Lloyds move follows its EUR 500 million sale of private-equity assets last year and a sale of 500 million pounds of leveraged loans in March.  Groupama has hired UBS to market its portfolio. It has EUR 1.8 million in assets under management across 16 funds, according to the BW report.

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