Private equity company L Catterton will sell minority interests in some of its portfolio investments in Asia to accounts managed by Hamilton Lane and other institutional investors for $360m.
The company is planning an initial public offering and could fetch a valuation of $3 billion, The Wall Street Journal previously reported.
The deal announced Thursday involves the creation of a so-called continuation fund, which typically means setting up a new fund to take on one or multiple portfolio investments from an existing fund. Such transactions, which have gained popularity in recent years, can provide liquidity to the limited partners in the existing fund ahead of the end of the fund’s lifespan, which typically lasts for 10 years.
Read more: Market Watch
