Stick or switch?
There are some sizeable LP-led portfolios out in the market. However, one LP believes collateralised fund obligations and NAV loans could provide attractive alternatives to traditional portfolio sales.
There are some hefty LP-led portfolios moving their way through the secondaries market.
Last week, Secondaries Investor reported Dutch pension giant APG Asset Management ?is exploring the sale of a large portfolio of LP stakes, which is understood to be between $2 billion and just over $3 billion in size. CalPERS ?is also exploring a potential sale following its $6 billion transaction in 2022. Secondaries Investor understands that portfolio, too, could be sizeable.
While North American LPs are certainly leading the charge on secondaries sales, LPs in APAC continue to come forward with international portfolio sales, according to an advisory source. Europe, meanwhile, has been slightly slower.
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