Canadian pension manager PSP Investments is trying to sell around $2 billion of private equity fund stakes, one of the largest such deals to enter the fast growing secondaries market.
The C$230.5 billion ($174 billion) manager, which looks after the retirement pots of the Canadian military and Royal Canadian Mounted Police, is seeking to rebalance its portfolio of buyout fund holdings and has approached secondaries fund investors to pitch for them, according to a person familiar with the transaction who asked not to be identified as the deal is confidential.
The portfolio includes funds managed by Bain Capital, Blackstone Inc, and CVC Capital Partners, the person said. The pension fund has around C$35 billion invested in private equity, according to its latest annual report.
Read more: BNN Bloomberg
