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PE Funds and Firms Continue to Change Owners

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April 16, 2012

HSBC has sold a 19.9% stake in private equity firm Montagu Private Equity LLP to MLLP Holdings Ltd., a company indirectly owned by Montagu’s management, according to WSJ. The deal is the latest in a sell off private equity holding by banks and pension funds.

 

In California, Calpers is reportedly selling a mix of mostly venture capital and buyout funds raised since 2000, according to Bloomberg.
The reason for the sell off is that LPs are trying to free up cash for new funds or reduce their number of managers to concentrate on best performing GPs. The Calpers sale will be among the largest deals currently on the secondaries market. It includes entire stakes in funds rather than partial positions, according to the report.

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